Mercer Global Advisors Inc. ADV bought a new stake in shares of BB&T Co. (NYSE:BBT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 31,544 shares of the insurance provider’s stock, valued at approximately $1,468,000.
Several other large investors have also bought and sold shares of the company. Mackenzie Financial Corp increased its holdings in shares of BB&T by 31.6% in the 3rd quarter. Mackenzie Financial Corp now owns 9,412 shares of the insurance provider’s stock worth $457,000 after purchasing an additional 2,262 shares in the last quarter. Kentucky Retirement Systems bought a new stake in shares of BB&T in the 3rd quarter worth $2,172,000. Standard Life Aberdeen plc increased its holdings in shares of BB&T by 9.1% in the 3rd quarter. Standard Life Aberdeen plc now owns 851,764 shares of the insurance provider’s stock worth $41,345,000 after purchasing an additional 71,378 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of BB&T by 1.7% in the 3rd quarter. Legal & General Group Plc now owns 3,657,100 shares of the insurance provider’s stock worth $177,517,000 after purchasing an additional 62,699 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of BB&T by 22.2% in the 3rd quarter. Morgan Stanley now owns 3,303,221 shares of the insurance provider’s stock worth $160,338,000 after purchasing an additional 599,074 shares in the last quarter. Hedge funds and other institutional investors own 67.65% of the company’s stock.
Shares of NYSE:BBT traded up $0.22 during mid-day trading on Friday, reaching $48.33. The stock had a trading volume of 3,370,867 shares, compared to its average volume of 5,684,079. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $37.03 billion, a P/E ratio of 11.93, a P/E/G ratio of 1.20 and a beta of 1.16. BB&T Co. has a 1 year low of $40.68 and a 1 year high of $54.98.
BB&T (NYSE:BBT) last posted its earnings results on Thursday, April 18th. The insurance provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. BB&T had a return on equity of 12.16% and a net margin of 23.68%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 earnings per share. On average, research analysts forecast that BB&T Co. will post 4.3 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.62 annualized dividend and a yield of 3.35%. BB&T’s payout ratio is currently 40.00%.
In related news, Director Patrick C. Graney III acquired 3,890 shares of BB&T stock in a transaction on Thursday, February 28th. The shares were bought at an average cost of $51.04 per share, with a total value of $198,545.60. Following the completion of the purchase, the director now directly owns 11,456 shares of the company’s stock, valued at approximately $584,714.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director I. Patricia Henry sold 2,289 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $51.51, for a total value of $117,906.39. Following the sale, the director now directly owns 4,543 shares in the company, valued at $234,009.93. The disclosure for this sale can be found here. Insiders have sold 8,358 shares of company stock worth $416,417 over the last three months. 0.49% of the stock is currently owned by insiders.
A number of analysts have commented on the company. ValuEngine raised BB&T from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Deutsche Bank upgraded BB&T from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Monday, March 25th. BMO Capital Markets lifted their target price on BB&T from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, February 11th. FIG Partners upgraded BB&T from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research report on Friday, February 8th. Finally, Raymond James downgraded BB&T from an “outperform” rating to a “market perform” rating and set a $48.49 target price on the stock. in a research report on Thursday, April 4th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $53.49.
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BB&T Company Profile
BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.
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