Macquarie Group Ltd. cut its stake in shares of BB&T (NYSE:BBT) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,709,591 shares of the insurance provider’s stock after selling 790,506 shares during the period. BB&T makes up 1.3% of Macquarie Group Ltd.’s investment portfolio, making the stock its 18th biggest holding. Macquarie Group Ltd. owned 1.88% of BB&T worth $731,610,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Millennium Management LLC acquired a new stake in shares of BB&T in the 4th quarter worth approximately $67,159,000. AXA grew its holdings in BB&T by 223.2% during the 4th quarter. AXA now owns 1,678,491 shares of the insurance provider’s stock valued at $83,454,000 after buying an additional 1,159,200 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in BB&T by 9.8% during the 4th quarter. Bank of New York Mellon Corp now owns 9,689,965 shares of the insurance provider’s stock valued at $481,786,000 after buying an additional 860,902 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in BB&T during the 4th quarter valued at $32,059,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in BB&T during the 3rd quarter valued at $27,849,000. 63.76% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on BBT. Oppenheimer restated a “hold” rating on shares of BB&T in a report on Thursday, January 18th. UBS raised BB&T from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 9th. Wells Fargo raised BB&T from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research report on Tuesday, March 27th. B. Riley reissued a “hold” rating and issued a $55.00 price objective on shares of BB&T in a research report on Thursday, January 18th. Finally, BMO Capital Markets raised BB&T from a “market perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research report on Friday, February 9th. They noted that the move was a valuation call. Fourteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. BB&T presently has a consensus rating of “Hold” and an average price target of $53.76.
NYSE BBT opened at $51.12 on Friday. BB&T has a twelve month low of $41.17 and a twelve month high of $56.31. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market cap of $41,163.84, a price-to-earnings ratio of 16.84, a PEG ratio of 1.22 and a beta of 1.04.
BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04. BB&T had a net margin of 19.25% and a return on equity of 9.93%. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the previous year, the company posted $0.72 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. equities analysts expect that BB&T will post 3.94 earnings per share for the current year.
The business also recently declared a None dividend, which was paid on Tuesday, March 20th. Stockholders of record on Tuesday, March 6th were issued a dividend of $0.045 per share. This represents a dividend yield of 2.37%. The ex-dividend date was Monday, March 5th. BB&T’s dividend payout ratio is currently 42.04%.
In other BB&T news, Chairman Kelly S. King sold 60,000 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $54.68, for a total transaction of $3,280,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director I. Patricia Henry sold 2,825 shares of the business’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $55.20, for a total transaction of $155,940.00. Following the transaction, the director now directly owns 4,375 shares of the company’s stock, valued at approximately $241,500. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 170,078 shares of company stock worth $9,316,414. 0.51% of the stock is currently owned by corporate insiders.
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BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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