Russell Investments Group Ltd. reduced its stake in shares of BB&T Corporation (NYSE:BBT) by 31.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 317,179 shares of the insurance provider’s stock after selling 147,118 shares during the period. Russell Investments Group Ltd.’s holdings in BB&T Corporation were worth $14,407,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BBT. BlackRock Inc. increased its position in shares of BB&T Corporation by 2,875.1% in the first quarter. BlackRock Inc. now owns 47,331,820 shares of the insurance provider’s stock valued at $2,115,732,000 after buying an additional 45,740,906 shares during the period. Vanguard Group Inc. increased its position in shares of BB&T Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 54,194,703 shares of the insurance provider’s stock valued at $2,422,504,000 after buying an additional 1,656,297 shares during the period. Janus Capital Management LLC increased its position in shares of BB&T Corporation by 46.8% in the first quarter. Janus Capital Management LLC now owns 3,333,817 shares of the insurance provider’s stock valued at $149,021,000 after buying an additional 1,062,590 shares during the period. FMR LLC increased its position in shares of BB&T Corporation by 214.8% in the first quarter. FMR LLC now owns 1,464,005 shares of the insurance provider’s stock valued at $65,440,000 after buying an additional 998,898 shares during the period. Finally, First Trust Advisors LP increased its position in shares of BB&T Corporation by 143.2% in the first quarter. First Trust Advisors LP now owns 1,642,161 shares of the insurance provider’s stock valued at $73,405,000 after buying an additional 966,962 shares during the period. 64.45% of the stock is currently owned by institutional investors.

Shares of BB&T Corporation (BBT) traded down 0.75% during midday trading on Friday, reaching $46.33. The company had a trading volume of 2,287,690 shares. BB&T Corporation has a 52 week low of $36.75 and a 52 week high of $49.88. The company has a market capitalization of $37.44 billion, a P/E ratio of 17.29 and a beta of 1.07. The company’s 50 day moving average price is $46.02 and its 200-day moving average price is $45.21.

BB&T Corporation (NYSE:BBT) last released its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.89 billion. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. On average, equities research analysts predict that BB&T Corporation will post $2.82 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be given a dividend of $0.33 per share. This is a boost from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Wednesday, August 9th. BB&T Corporation’s dividend payout ratio is currently 49.25%.

BB&T Corporation declared that its board has initiated a stock buyback program on Wednesday, June 28th that allows the company to buyback $1.88 billion in shares. This buyback authorization allows the insurance provider to purchase up to 5.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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Several equities analysts have commented on BBT shares. BidaskClub downgraded BB&T Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Hilliard Lyons raised BB&T Corporation from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $51.00 to $49.00 in a research report on Monday, April 24th. Jefferies Group LLC reissued a “hold” rating and set a $49.00 price target on shares of BB&T Corporation in a research report on Friday, July 14th. BMO Capital Markets reissued a “hold” rating and set a $48.00 price target on shares of BB&T Corporation in a research report on Friday, June 30th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of BB&T Corporation in a research report on Thursday, April 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. BB&T Corporation currently has a consensus rating of “Hold” and an average price target of $47.19.

In other news, EVP William Rufus Yates sold 28,515 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the completion of the transaction, the executive vice president now directly owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total value of $865,606.17. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.

BB&T Corporation Company Profile

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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Institutional Ownership by Quarter for BB&T Corporation (NYSE:BBT)

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