Stephens Inc. AR Sells 23,789 Shares of BB&T Co. (NYSE:BBT)

Stephens Inc. AR reduced its stake in shares of BB&T Co. (NYSE:BBT) by 24.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,653 shares of the insurance provider’s stock after selling 23,789 shares during the quarter. Stephens Inc. AR’s holdings in BB&T were worth $3,520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BBT. BlackRock Inc. grew its stake in shares of BB&T by 10.7% during the first quarter. BlackRock Inc. now owns 59,338,587 shares of the insurance provider’s stock valued at $2,761,026,000 after purchasing an additional 5,759,090 shares during the last quarter. Boston Partners grew its stake in shares of BB&T by 59.9% during the first quarter. Boston Partners now owns 5,737,854 shares of the insurance provider’s stock valued at $266,982,000 after purchasing an additional 2,150,335 shares during the last quarter. River Road Asset Management LLC boosted its stake in BB&T by 38.2% in the first quarter. River Road Asset Management LLC now owns 2,155,041 shares of the insurance provider’s stock valued at $100,274,000 after acquiring an additional 595,260 shares during the last quarter. Geode Capital Management LLC boosted its stake in BB&T by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 9,220,118 shares of the insurance provider’s stock valued at $398,655,000 after acquiring an additional 590,366 shares during the last quarter. Finally, RNC Capital Management LLC boosted its stake in BB&T by 974.4% in the second quarter. RNC Capital Management LLC now owns 587,050 shares of the insurance provider’s stock valued at $28,842,000 after acquiring an additional 532,410 shares during the last quarter. 67.93% of the stock is currently owned by institutional investors and hedge funds.

BBT stock traded up $1.10 during midday trading on Friday, reaching $46.55. The company’s stock had a trading volume of 8,019,600 shares, compared to its average volume of 4,741,233. BB&T Co. has a 52 week low of $40.68 and a 52 week high of $53.08. The stock has a market cap of $35.66 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.15 and a beta of 1.12. 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 business’s 50-day simple moving average is $49.38 and its 200-day simple moving average is $49.25.

BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, July 18th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.01 billion. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. As a group, equities analysts forecast that BB&T Co. will post 4.22 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 14th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.80 annualized dividend and a yield of 3.87%. BB&T’s dividend payout ratio (DPR) is presently 44.44%.

A number of brokerages have issued reports on BBT. Deutsche Bank set a $59.00 price objective on shares of BB&T and gave the company a “buy” rating in a research note on Friday, July 26th. Morgan Stanley set a $51.00 price objective on shares of BB&T and gave the company a “hold” rating in a research note on Friday, August 9th. ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price objective on shares of BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, UBS Group reduced their price objective on shares of BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. BB&T currently has a consensus rating of “Hold” and a consensus target price of $53.86.

In other BB&T news, Director Louis B. Lynn sold 2,500 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $48.33, for a total value of $120,825.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David Hudson Weaver sold 21,705 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $51.44, for a total transaction of $1,116,505.20. The disclosure for this sale can be found here. Company 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.

Recommended Story: How do CD ladders protect against rising interest rates?

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

Receive News & Ratings for BB&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T and related companies with MarketBeat.com's FREE daily email newsletter.