BB&T Co. (NYSE:BBT) Holdings Lowered by KG&L Capital Management LLC

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KG&L Capital Management LLC trimmed its stake in shares of BB&T Co. (NYSE:BBT) by 18.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,092 shares of the insurance provider’s stock after selling 1,367 shares during the quarter. KG&L Capital Management LLC’s holdings in BB&T were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Private Advisor Group LLC boosted its holdings in BB&T by 14.1% in the 1st quarter. Private Advisor Group LLC now owns 33,827 shares of the insurance provider’s stock worth $1,573,000 after buying an additional 4,183 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in BB&T by 29.1% in the 1st quarter. Neuberger Berman Group LLC now owns 473,699 shares of the insurance provider’s stock worth $22,041,000 after buying an additional 106,817 shares during the last quarter. Hancock Whitney Corp boosted its holdings in BB&T by 11.2% in the 1st quarter. Hancock Whitney Corp now owns 39,513 shares of the insurance provider’s stock worth $1,838,000 after buying an additional 3,982 shares during the last quarter. Tyers Asset Management LLC boosted its holdings in BB&T by 15.6% in the 1st quarter. Tyers Asset Management LLC now owns 17,200 shares of the insurance provider’s stock worth $800,000 after buying an additional 2,320 shares during the last quarter. Finally, GWM Advisors LLC boosted its holdings in BB&T by 8.7% in the 1st quarter. GWM Advisors LLC now owns 36,213 shares of the insurance provider’s stock worth $1,685,000 after buying an additional 2,887 shares during the last quarter. Institutional investors own 70.16% of the company’s stock.

BBT has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. UBS Group lowered their price objective on BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Co set a $55.00 price objective on BB&T and gave the stock a “buy” rating in a report on Friday, August 16th. ValuEngine lowered shares of BB&T from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Deutsche Bank set a $59.00 target price on shares of BB&T and gave the stock a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $54.27.

BBT traded up $0.67 during trading on Friday, reaching $52.00. The company’s stock had a trading volume of 5,191,322 shares, compared to its average volume of 4,765,223. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.79. The firm has a fifty day simple moving average of $50.27 and a two-hundred day simple moving average of $49.22. BB&T Co. has a 1 year low of $40.68 and a 1 year high of $53.90. The company has a market cap of $39.06 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.34 and a beta of 1.17.

BB&T (NYSE:BBT) last released its earnings results on Thursday, July 18th. The insurance provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.04. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the company posted $1.01 EPS. The business’s revenue was up 5.7% on a year-over-year basis. As a group, equities analysts forecast that BB&T Co. will post 4.24 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 14th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.46%. This is a positive change from BB&T’s previous quarterly dividend of $0.41. BB&T’s dividend payout ratio (DPR) is 44.44%.

In other news, Director K. David Jr. Boyer sold 4,285 shares of BB&T stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $52.64, for a total transaction of $225,562.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of BB&T stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.44, for a total transaction of $712,952,605.08. Insiders sold a total of 25,099,147 shares of company stock worth $714,407,173 over the last three months. Corporate insiders own 0.49% of the company’s stock.

About BB&T

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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