Taylor Hoffman Wealth Management Sells 2,790 Shares of BB&T Co. (NYSE:BBT)

Taylor Hoffman Wealth Management trimmed its holdings in BB&T Co. (NYSE:BBT) by 13.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Banyan Capital Management Inc. increased its stake in BB&T by 3.4% during the 2nd quarter. Banyan Capital Management Inc. now owns 61,361 shares of the insurance provider’s stock valued at $3,015,000 after purchasing an additional 2,005 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in BB&T by 6.7% during the 2nd quarter. Asset Management One Co. Ltd. now owns 553,837 shares of the insurance provider’s stock valued at $27,207,000 after purchasing an additional 34,749 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in BB&T by 3.1% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 31,024 shares of the insurance provider’s stock valued at $1,524,000 after purchasing an additional 924 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in BB&T by 0.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,642,426 shares of the insurance provider’s stock valued at $80,692,000 after purchasing an additional 7,749 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in BB&T by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,747,893 shares of the insurance provider’s stock valued at $184,134,000 after purchasing an additional 114,214 shares in the last quarter. Institutional investors own 70.13% of the company’s stock.

Shares of BBT traded up $0.21 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. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market capitalization of $42.42 billion, a P/E ratio of 13.57, a PEG ratio of 1.78 and a beta of 1.17. The stock’s 50 day simple moving average is $52.91 and its two-hundred day simple moving average is $50.04. BB&T Co. has a 12-month low of $40.68 and a 12-month high of $55.66.

BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.04. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.99 billion. BB&T had a net margin of 23.17% and a return on equity of 12.25%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. 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 issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, November 7th. BB&T’s payout ratio is 44.44%.

In related news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the firm’s stock in a transaction that occurred on 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 Nido R. Qubein sold 4,500 shares of BB&T stock in a transaction that occurred on Sunday, September 1st. The shares were sold at an average price of $25.00, for a total transaction of $112,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 25,077,442 shares of company stock worth $713,290,667. 0.49% of the stock is currently owned by insiders.

BBT has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of BB&T from $53.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, October 21st. Jefferies Financial Group raised shares of BB&T from a “hold” rating to a “buy” rating and raised their price target for the company from $52.00 to $58.00 in a report on Tuesday, October 8th. Bank of America raised their price target on shares of BB&T from $53.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 18th. Deutsche Bank set a $59.00 price target on shares of BB&T and gave the company a “buy” rating in a report on Friday, July 26th. Finally, ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $54.50.

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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