Shelter Mutual Insurance Co Decreases Stock Position in BB&T Co. (NYSE:BBT)

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Shelter Mutual Insurance Co lessened its position in BB&T Co. (NYSE:BBT) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,350 shares of the insurance provider’s stock after selling 9,950 shares during the quarter. BB&T comprises 1.5% of Shelter Mutual Insurance Co’s holdings, making the stock its 28th largest position. Shelter Mutual Insurance Co’s holdings in BB&T were worth $5,126,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBT. Advisory Services Network LLC lifted its position in BB&T by 34.3% during the first quarter. Advisory Services Network LLC now owns 49,790 shares of the insurance provider’s stock worth $2,317,000 after buying an additional 12,729 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its position in BB&T by 4.4% during the first quarter. ZWJ Investment Counsel Inc. now owns 29,093 shares of the insurance provider’s stock worth $1,354,000 after buying an additional 1,228 shares in the last quarter. Raymond James & Associates lifted its position in BB&T by 13.5% during the first quarter. Raymond James & Associates now owns 2,468,226 shares of the insurance provider’s stock worth $114,846,000 after buying an additional 292,660 shares in the last quarter. Parallel Advisors LLC lifted its position in BB&T by 83.2% during the first quarter. Parallel Advisors LLC now owns 3,107 shares of the insurance provider’s stock worth $145,000 after buying an additional 1,411 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in BB&T by 26.7% during the first quarter. Advisor Group Inc. now owns 78,824 shares of the insurance provider’s stock worth $3,670,000 after buying an additional 16,608 shares in the last quarter. Institutional investors and hedge funds own 67.93% of the company’s stock.

A number of brokerages recently commented on BBT. ValuEngine upgraded BB&T from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Morgan Stanley set a $51.00 price objective on BB&T and gave the stock a “hold” rating in a research report on Friday, August 9th. UBS Group reduced their price objective on BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price objective on BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Deutsche Bank set a $59.00 price objective on BB&T and gave the stock a “buy” rating in a research report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $53.86.

In related news, Director Louis B. Lynn sold 2,500 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $48.33, for a total transaction of $120,825.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Hudson Weaver sold 21,705 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $51.44, for a total value of $1,116,505.20. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

NYSE:BBT traded up $0.36 on Thursday, reaching $45.60. The company’s stock had a trading volume of 233,223 shares, compared to its average volume of 4,621,313. BB&T Co. has a 12-month low of $40.68 and a 12-month high of $53.08. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $35.72 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 1.18 and a beta of 1.12. The company has a 50 day moving average of $49.46.

BB&T (NYSE:BBT) last posted its earnings results on Thursday, July 18th. The insurance provider reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. BB&T had a return on equity of 12.23% and a net margin of 23.58%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Research analysts anticipate that BB&T Co. will post 4.23 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 14th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.95%. BB&T’s payout ratio is presently 40.00%.

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

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