Bessemer Group Inc. cut its position in BB&T Corporation (NYSE:BBT) by 10.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 51,916 shares of the insurance provider’s stock after selling 5,789 shares during the period. Bessemer Group Inc.’s holdings in BB&T Corporation were worth $2,357,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc boosted its position in shares of BB&T Corporation by 3.4% in the first quarter. Legal & General Group Plc now owns 3,892,901 shares of the insurance provider’s stock worth $174,020,000 after buying an additional 126,549 shares in the last quarter. Heritage Trust Co bought a new position in shares of BB&T Corporation during the first quarter worth approximately $2,371,000. Peapack Gladstone Financial Corp boosted its position in shares of BB&T Corporation by 4.8% in the first quarter. Peapack Gladstone Financial Corp now owns 270,317 shares of the insurance provider’s stock worth $12,083,000 after buying an additional 12,302 shares in the last quarter. Glen Harbor Capital Management LLC boosted its position in shares of BB&T Corporation by 47.5% in the first quarter. Glen Harbor Capital Management LLC now owns 23,426 shares of the insurance provider’s stock worth $1,047,000 after buying an additional 7,548 shares in the last quarter. Finally, HRT Financial LLC boosted its position in shares of BB&T Corporation by 26.2% in the first quarter. HRT Financial LLC now owns 9,179 shares of the insurance provider’s stock worth $410,000 after buying an additional 1,908 shares in the last quarter. 64.45% of the stock is currently owned by institutional investors.

Shares of BB&T Corporation (NYSE BBT) opened at 46.31 on Friday. BB&T Corporation has a one year low of $36.80 and a one year high of $49.88. The stock has a 50 day moving average price of $46.10 and a 200 day moving average price of $45.22. The company has a market capitalization of $37.42 billion, a PE ratio of 17.29 and a beta of 1.07.

BB&T Corporation (NYSE:BBT) last released its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts predict that BB&T Corporation will post $2.82 earnings per share for the current year.

BB&T Corporation declared that its board has authorized a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $1.88 billion in shares. This buyback authorization authorizes the insurance provider to reacquire up to 5.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Wednesday, August 9th. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s dividend payout ratio is 49.25%.

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A number of equities research analysts have commented on the company. Macquarie raised BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price target on the stock in a report on Friday, August 4th. BidaskClub raised BB&T Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Hilliard Lyons raised BB&T Corporation from a “neutral” rating to a “buy” rating and decreased their price target for the company from $51.00 to $49.00 in a report on Monday, April 24th. FBR & Co reissued a “hold” rating on shares of BB&T Corporation in a report on Friday, April 21st. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of BB&T Corporation in a report on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $47.19.

In related news, EVP William Rufus Yates sold 28,515 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the completion of the transaction, the executive vice president now owns 34,887 shares in the company, valued at approximately $1,642,131.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total transaction of $865,606.17. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate 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.

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

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