Empire Life Investments Inc. Has $11.42 Million Stake in BB&T Co. (BBT)

Empire Life Investments Inc. cut its stake in shares of BB&T Co. (NYSE:BBT) by 0.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 245,483 shares of the insurance provider’s stock after selling 753 shares during the period. Empire Life Investments Inc.’s holdings in BB&T were worth $11,422,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Financial Advantage Inc. purchased a new position in shares of BB&T during the 4th quarter worth approximately $27,000. Athena Capital Advisors LLC purchased a new position in shares of BB&T during the 4th quarter worth approximately $28,000. Sontag Advisory LLC purchased a new position in shares of BB&T during the 4th quarter worth approximately $28,000. Truvestments Capital LLC purchased a new position in shares of BB&T during the 1st quarter worth approximately $30,000. Finally, Destination Wealth Management raised its stake in shares of BB&T by 375.0% during the 4th quarter. Destination Wealth Management now owns 722 shares of the insurance provider’s stock worth $31,000 after buying an additional 570 shares in the last quarter. 65.07% of the stock is owned by hedge funds and other institutional investors.

BBT stock opened at $49.50 on Friday. BB&T Co. has a 52-week low of $40.68 and a 52-week high of $56.03. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 0.88. The firm has a market cap of $37.91 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.25 and a beta of 1.16.

BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, April 18th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. BB&T had a return on equity of 12.16% and a net margin of 23.68%. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts predict that BB&T Co. will post 4.32 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, May 14th. BB&T’s dividend payout ratio (DPR) is 40.00%.

A number of brokerages have recently issued reports on BBT. ValuEngine raised BB&T from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Morgan Stanley cut their target price on BB&T from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Raymond James downgraded BB&T from an “outperform” rating to a “market perform” rating and set a $48.49 target price for the company. in a research note on Thursday, April 4th. Deutsche Bank downgraded BB&T from a “buy” rating to a “hold” rating and set a $45.39 target price for the company. in a research note on Tuesday, March 26th. Finally, Odeon Capital Group began coverage on BB&T in a research note on Friday, March 8th. They set a “buy” rating for the company. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.49.

In related news, VP Cynthia B. Powell sold 2,651 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $49.22, for a total value of $130,482.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Patrick C. Graney III bought 3,890 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was purchased at an average cost of $51.04 per share, for a total transaction of $198,545.60. Following the completion of the transaction, the director now directly owns 11,456 shares in the company, valued at approximately $584,714.24. The disclosure for this purchase can be found here. Insiders have sold 7,229 shares of company stock worth $366,432 in the last 90 days. Insiders own 0.49% of the company’s stock.

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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.

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

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