Engineers Gate Manager LP lessened its stake in BB&T Co. (NYSE:BBT) by 27.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,110 shares of the insurance provider’s stock after selling 12,756 shares during the period. Engineers Gate Manager LP’s holdings in BB&T were worth $1,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of BB&T by 2.4% during the second quarter. Vanguard Group Inc. now owns 55,519,721 shares of the insurance provider’s stock worth $2,521,151,000 after acquiring an additional 1,325,018 shares during the last quarter. BlackRock Inc. boosted its position in BB&T by 0.8% in the second quarter. BlackRock Inc. now owns 47,713,735 shares of the insurance provider’s stock valued at $2,166,682,000 after buying an additional 381,915 shares during the last quarter. Macquarie Group Ltd. boosted its position in BB&T by 1.7% in the second quarter. Macquarie Group Ltd. now owns 17,133,475 shares of the insurance provider’s stock valued at $778,031,000 after buying an additional 291,257 shares during the last quarter. First Eagle Investment Management LLC boosted its position in BB&T by 3.3% in the third quarter. First Eagle Investment Management LLC now owns 16,699,414 shares of the insurance provider’s stock valued at $783,870,000 after buying an additional 541,257 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in BB&T by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 8,829,063 shares of the insurance provider’s stock valued at $414,436,000 after buying an additional 86,200 shares during the last quarter. Institutional investors own 65.28% of the company’s stock.
In related news, Chairman Kelly S. King sold 66,372 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $47.53, for a total transaction of $3,154,661.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Donna C. Goodrich sold 10,799 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $46.77, for a total value of $505,069.23. Following the transaction, the insider now directly owns 47,182 shares in the company, valued at approximately $2,206,702.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,150 shares of company stock valued at $8,712,859. Company insiders own 0.36% of the company’s stock.
Shares of BB&T Co. (BBT) traded up $0.20 during trading hours on Tuesday, reaching $49.92. The company’s stock had a trading volume of 2,500,000 shares, compared to its average volume of 4,740,000. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.78. The stock has a market cap of $39,380.00, a PE ratio of 18.56, a P/E/G ratio of 2.29 and a beta of 1.00. BB&T Co. has a 12 month low of $41.17 and a 12 month high of $51.11.
BB&T (NYSE:BBT) last released its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.78. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.85 billion. BB&T had a return on equity of 9.64% and a net margin of 19.42%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 EPS. analysts predict that BB&T Co. will post 3.1 EPS for the current year.
A number of equities research analysts recently commented on BBT shares. SunTrust Banks reiterated a “buy” rating and issued a $50.00 target price on shares of BB&T in a research report on Thursday, October 12th. Zacks Investment Research downgraded BB&T from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Piper Jaffray Companies reissued a “hold” rating and issued a $48.00 price target on shares of BB&T in a report on Sunday, October 22nd. Jefferies Group reaffirmed a “hold” rating and set a $49.00 target price on shares of BB&T in a research note on Friday, September 15th. Finally, Barclays upped their target price on BB&T from $51.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. BB&T currently has a consensus rating of “Hold” and a consensus price target of $50.39.
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BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.
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