Nordea Investment Management AB lowered its stake in shares of BB&T Corporation (NYSE:BBT) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 595,571 shares of the insurance provider’s stock after selling 6,859 shares during the quarter. Nordea Investment Management AB owned about 0.07% of BB&T Corporation worth $27,045,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc increased its holdings in BB&T Corporation by 3.4% in the 1st quarter. Legal & General Group Plc now owns 3,892,901 shares of the insurance provider’s stock valued at $174,020,000 after buying an additional 126,549 shares during the period. Heritage Trust Co bought a new stake in BB&T Corporation in the 1st quarter valued at $2,371,000. HRT Financial LLC increased its holdings in BB&T Corporation by 26.2% in the 1st quarter. HRT Financial LLC now owns 9,179 shares of the insurance provider’s stock valued at $410,000 after buying an additional 1,908 shares during the period. Bank of America Corp DE increased its holdings in BB&T Corporation by 0.3% in the 1st quarter. Bank of America Corp DE now owns 12,766,336 shares of the insurance provider’s stock valued at $570,655,000 after buying an additional 43,867 shares during the period. Finally, Peapack Gladstone Financial Corp increased its holdings in BB&T Corporation by 4.8% in the 1st quarter. Peapack Gladstone Financial Corp now owns 270,317 shares of the insurance provider’s stock valued at $12,083,000 after buying an additional 12,302 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have issued reports on the stock. BMO Capital Markets reissued a “hold” rating and issued a $48.00 price target on shares of BB&T Corporation in a report on Friday, June 30th. BidaskClub raised shares of BB&T Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Hilliard Lyons lowered shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a report on Friday, July 21st. Macquarie raised shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price target on the stock in a report on Friday, August 4th. Finally, Robert W. Baird reissued a “hold” rating and issued a $45.00 price target on shares of BB&T Corporation in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.38.

In related news, insider David Hudson Weaver sold 8,752 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total value of $410,556.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP William Rufus Yates sold 28,515 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total value of $1,342,201.05. Following the completion of the transaction, the executive vice president now owns 34,887 shares in the company, valued at approximately $1,642,131.09. The disclosure for this sale can be found here. Insiders sold 55,610 shares of company stock worth $2,618,364 in the last 90 days. 0.36% of the stock is owned by company insiders.

BB&T Corporation (NYSE:BBT) last issued its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.77. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the business earned $0.71 earnings per share. BB&T Corporation’s revenue was up 2.4% on a year-over-year basis.

BB&T Corporation declared that its board has initiated a share buyback plan on Wednesday, June 28th that allows the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 5.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.92%. This is a boost from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s dividend payout ratio (DPR) is presently 49.25%.

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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.

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

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