Taylor Hoffman Wealth Management Reduces Holdings in BB&T Co. (NYSE:BBT)

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Taylor Hoffman Wealth Management trimmed its position in shares of BB&T Co. (NYSE:BBT) by 13.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,018 shares of the insurance provider’s stock after selling 2,790 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in BB&T were worth $962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BBT. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of BB&T during the second quarter valued at $26,000. Proffitt & Goodson Inc. boosted its stake in shares of BB&T by 93.4% during the third quarter. Proffitt & Goodson Inc. now owns 586 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 283 shares during the period. Fulcrum Capital LLC purchased a new stake in shares of BB&T during the third quarter valued at $411,000. Northwest Investment Counselors LLC purchased a new stake in shares of BB&T during the third quarter valued at $40,000. Finally, Delta Asset Management LLC TN boosted its stake in shares of BB&T by 83.6% during the third quarter. Delta Asset Management LLC TN now owns 773 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 352 shares during the period. 70.13% of the stock is owned by institutional investors.

A number of brokerages have recently issued reports on BBT. Morgan Stanley set a $51.00 target price on shares of BB&T and gave the company a “hold” rating in a research note on Friday, August 9th. Jefferies Financial Group raised shares of BB&T from a “hold” rating to a “buy” rating and boosted their target price for the company from $52.00 to $58.00 in a research note on Tuesday, October 8th. Bank of America boosted their target price on shares of BB&T from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Deutsche Bank set a $59.00 target price on shares of BB&T and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $54.50.

NYSE:BBT traded up $0.21 during mid-day trading on Friday, reaching $54.94. The company’s stock had a trading volume of 3,962,472 shares, compared to its average volume of 5,042,242. BB&T Co. has a 1 year low of $40.68 and a 1 year high of $55.66. The stock has a fifty day moving average of $52.91 and a 200-day moving average of $50.04. The firm has a market capitalization of $42.42 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.78 and a beta of 1.17. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.87.

BB&T (NYSE:BBT) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.04. BB&T had a net margin of 23.17% and a return on equity of 12.25%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts expect that BB&T Co. will post 4.21 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Thursday, November 7th. BB&T’s dividend payout ratio (DPR) is presently 44.44%.

In other BB&T news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.44, for a total value of $712,952,605.08. Also, Director K. David Jr. Boyer sold 4,285 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $52.64, for a total transaction of $225,562.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,077,442 shares of company stock valued at $713,290,667. 0.49% of the stock is owned by insiders.

BB&T 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.

See Also: Benefits of owning preferred stock

Want to see what other hedge funds are holding BBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BB&T Co. (NYSE:BBT).

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

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