Oregon Public Employees Retirement Fund reduced its position in shares of BB&T Co. (NYSE:BBT) by 4.5% in the 1st quarter, Holdings Channel reports. The firm owned 80,435 shares of the insurance provider’s stock after selling 3,766 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in BB&T were worth $3,743,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in BBT. Norges Bank bought a new stake in BB&T during the 4th quarter worth about $302,329,000. BlackRock Inc. increased its stake in shares of BB&T by 8.3% in the 4th quarter. BlackRock Inc. now owns 53,579,497 shares of the insurance provider’s stock valued at $2,321,062,000 after acquiring an additional 4,086,502 shares during the last quarter. Boston Partners increased its stake in shares of BB&T by 59.9% in the 1st quarter. Boston Partners now owns 5,737,854 shares of the insurance provider’s stock valued at $266,982,000 after acquiring an additional 2,150,335 shares during the last quarter. Bahl & Gaynor Inc. increased its stake in shares of BB&T by 46.0% in the 4th quarter. Bahl & Gaynor Inc. now owns 5,561,520 shares of the insurance provider’s stock valued at $240,925,000 after acquiring an additional 1,753,162 shares during the last quarter. Finally, Vanguard Group Inc increased its stake in shares of BB&T by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 59,282,776 shares of the insurance provider’s stock valued at $2,877,586,000 after acquiring an additional 939,154 shares during the last quarter. 65.51% of the stock is owned by hedge funds and other institutional investors.
In other BB&T news, VP Cynthia B. Powell sold 2,651 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $49.22, for a total transaction of $130,482.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director I. Patricia Henry sold 2,289 shares of the company’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 transaction, the director now directly owns 4,543 shares of the company’s stock, valued at approximately $234,009.93. The disclosure for this sale can be found here. Insiders sold a total of 8,358 shares of company stock valued at $416,417 over the last quarter. 0.49% of the stock is owned by insiders.
BB&T (NYSE:BBT) last issued its quarterly earnings data on Thursday, April 18th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.02. BB&T had a return on equity of 12.16% and a net margin of 23.68%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the firm earned $0.94 EPS. BB&T’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts forecast that BB&T Co. will post 4.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given a $0.405 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.62 annualized dividend and a dividend yield of 3.32%. BB&T’s dividend payout ratio is presently 40.00%.
BBT has been the subject of a number of recent analyst reports. Odeon Capital Group initiated coverage on BB&T in a research note on Friday, March 8th. They issued a “buy” rating for the company. Morgan Stanley lowered their price target on BB&T from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Bank of America raised BB&T from a “neutral” rating to a “buy” rating and set a $50.46 price target for the company in a research note on Friday, February 8th. Stephens cut BB&T from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 6th. Finally, Deutsche Bank cut BB&T from a “buy” rating to a “hold” rating and set a $49.08 price target for the company. in a research note on Friday, January 25th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. BB&T has a consensus rating of “Hold” and an average target price of $53.49.
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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