Shelter Mutual Insurance Co Cuts Holdings in BB&T Co. (NYSE:BBT)

Shelter Mutual Insurance Co reduced its position in BB&T Co. (NYSE:BBT) by 8.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 104,350 shares of the insurance provider’s stock after selling 9,950 shares during the period. BB&T accounts for about 1.5% of Shelter Mutual Insurance Co’s holdings, making the stock its 28th largest holding. Shelter Mutual Insurance Co’s holdings in BB&T were worth $5,126,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zeke Capital Advisors LLC raised its holdings in shares of BB&T by 1.1% during the second quarter. Zeke Capital Advisors LLC now owns 18,566 shares of the insurance provider’s stock valued at $912,000 after buying an additional 198 shares during the last quarter. Graves Light Private Wealth Management Inc. raised its holdings in shares of BB&T by 0.4% during the second quarter. Graves Light Private Wealth Management Inc. now owns 52,085 shares of the insurance provider’s stock valued at $2,559,000 after buying an additional 200 shares during the last quarter. Weather Gauge Advisory LLC raised its holdings in shares of BB&T by 0.3% during the second quarter. Weather Gauge Advisory LLC now owns 78,278 shares of the insurance provider’s stock valued at $3,846,000 after buying an additional 206 shares during the last quarter. Lakeview Capital Partners LLC raised its holdings in shares of BB&T by 2.5% during the first quarter. Lakeview Capital Partners LLC now owns 8,637 shares of the insurance provider’s stock valued at $402,000 after buying an additional 209 shares during the last quarter. Finally, Wetherby Asset Management Inc. raised its holdings in shares of BB&T by 1.3% during the second quarter. Wetherby Asset Management Inc. now owns 19,567 shares of the insurance provider’s stock valued at $961,000 after buying an additional 250 shares during the last quarter. 67.93% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Louis B. Lynn sold 2,500 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $48.33, for a total transaction of $120,825.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David Hudson Weaver sold 21,705 shares of the business’s stock in a transaction dated 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. Insiders own 0.49% of the company’s stock.

Shares of BB&T stock traded up $0.36 on Thursday, hitting $45.60. 233,223 shares of the company traded hands, compared to its average volume of 4,621,313. The stock’s 50-day moving average is $49.46. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.87 and a current ratio of 0.88. BB&T Co. has a 12-month low of $40.68 and a 12-month high of $53.08. The company has a market cap of $35.72 billion, a P/E ratio of 11.26, a PEG ratio of 1.18 and a beta of 1.12.

BB&T (NYSE:BBT) last posted its quarterly earnings results on Thursday, July 18th. The insurance provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.08 by $0.04. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the company posted $1.01 EPS. BB&T’s revenue was up 5.7% on a year-over-year basis. Equities analysts expect that BB&T Co. will post 4.23 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 14th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.80 annualized dividend and a dividend yield of 3.95%. BB&T’s payout ratio is 40.00%.

BBT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Morgan Stanley set a $51.00 price target on BB&T and gave the company a “hold” rating in a report on Friday, August 9th. Deutsche Bank set a $59.00 price target on BB&T and gave the company a “buy” rating in a report on Friday, July 26th. UBS Group cut their price target on BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, ValuEngine raised BB&T from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $53.86.

BB&T Company 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.

Further Reading: Return on Investment (ROI)

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

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