Marshall Wace North America L.P. Invests $9.92 Million in BB&T Corporation (NYSE:BBT)

Marshall Wace North America L.P. acquired a new stake in BB&T Corporation (NYSE:BBT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 220,542 shares of the insurance provider’s stock, valued at approximately $9,924,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dodge & Cox acquired a new stake in BB&T Corporation during the fourth quarter worth about $996,945,000. FMR LLC increased its stake in BB&T Corporation by 214.8% in the first quarter. FMR LLC now owns 1,464,005 shares of the insurance provider’s stock worth $65,440,000 after buying an additional 998,898 shares during the period. First Trust Advisors LP increased its stake in 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 worth $73,405,000 after buying an additional 966,962 shares during the period. Canada Pension Plan Investment Board increased its stake in BB&T Corporation by 469.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,022,973 shares of the insurance provider’s stock worth $45,727,000 after buying an additional 843,425 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in BB&T Corporation by 9,941.4% in the first quarter. Assenagon Asset Management S.A. now owns 651,283 shares of the insurance provider’s stock worth $29,112,000 after buying an additional 644,797 shares during the period. Institutional investors and hedge funds own 64.45% of the company’s stock.

BB&T Corporation (NYSE BBT) traded up 0.19% during midday trading on Tuesday, reaching $48.25. The company’s stock had a trading volume of 3,312,782 shares. BB&T Corporation has a 1-year low of $36.75 and a 1-year high of $49.88. The firm has a 50 day moving average price of $45.60 and a 200 day moving average price of $45.15. The firm has a market capitalization of $38.99 billion, a PE ratio of 18.01 and a beta of 1.07.

BB&T Corporation (NYSE:BBT) last announced its earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.71 EPS. On average, analysts predict that BB&T Corporation will post $2.83 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, August 9th. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 2.74%. BB&T Corporation’s payout ratio is presently 44.78%.

BB&T Corporation declared that its Board of Directors has initiated a share repurchase 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 purchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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A number of analysts recently issued reports on BBT shares. BidaskClub raised shares of BB&T Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. FBR & Co reaffirmed a “hold” rating on shares of BB&T Corporation in a research report on Friday, April 21st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 price objective on shares of BB&T Corporation in a research report on Friday, July 14th. Macquarie raised shares of BB&T Corporation from an “underperform” rating to a “neutral” rating in a research report on Friday. Finally, Hilliard Lyons raised shares of BB&T Corporation from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $51.00 to $49.00 in a research report on Monday, April 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $47.43.

In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation 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 transaction, the executive vice president now directly owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of BB&T Corporation 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. 0.36% of the stock is currently owned by insiders.

About BB&T Corporation

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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