Cadence Capital Management LLC Has $2.94 Million Holdings in BB&T Co. (NYSE:BBT)

Cadence Capital Management LLC cut its position in shares of BB&T Co. (NYSE:BBT) by 21.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,806 shares of the insurance provider’s stock after selling 16,718 shares during the period. Cadence Capital Management LLC’s holdings in BB&T were worth $2,938,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of BB&T by 10.7% in the 1st quarter. BlackRock Inc. now owns 59,338,587 shares of the insurance provider’s stock valued at $2,761,026,000 after acquiring an additional 5,759,090 shares during the period. Northern Trust Corp boosted its position in shares of BB&T by 1.5% in the 1st quarter. Northern Trust Corp now owns 11,293,602 shares of the insurance provider’s stock worth $525,492,000 after purchasing an additional 163,933 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of BB&T by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 9,220,118 shares of the insurance provider’s stock worth $398,655,000 after purchasing an additional 590,366 shares in the last quarter. American Century Companies Inc. boosted its position in shares of BB&T by 0.6% in the 1st quarter. American Century Companies Inc. now owns 9,180,892 shares of the insurance provider’s stock worth $427,187,000 after purchasing an additional 55,869 shares in the last quarter. Finally, Bahl & Gaynor Inc. boosted its position in shares of BB&T by 19.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 6,867,670 shares of the insurance provider’s stock worth $337,408,000 after purchasing an additional 1,121,533 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

In other BB&T news, insider David Hudson Weaver sold 21,705 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nido R. Qubein sold 4,500 shares of the firm’s stock in a transaction dated Sunday, September 1st. The stock was sold at an average price of $25.00, for a total value of $112,500.00. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

A number of analysts have recently weighed in on the company. Morgan Stanley set a $51.00 price objective on BB&T and gave the stock a “hold” rating in a research report on Friday, August 9th. UBS Group lowered their price target on BB&T from $55.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Co set a $55.00 price target on BB&T and gave the stock a “buy” rating in a research report on Friday, August 16th. Deutsche Bank set a $59.00 price target on BB&T and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. lowered their price target on BB&T from $51.50 to $50.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. BB&T has an average rating of “Buy” and a consensus target price of $53.95.

NYSE:BBT traded up $0.31 during trading hours on Friday, hitting $53.10. 97,102 shares of the stock were exchanged, compared to its average volume of 4,355,941. The company has a market cap of $39.26 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.34 and a beta of 1.15. The firm’s fifty day moving average price is $48.10 and its 200 day moving average price is $48.91. BB&T Co. has a 52-week low of $40.68 and a 52-week high of $53.05. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.79.

BB&T (NYSE:BBT) last released its quarterly earnings data on Thursday, July 18th. The insurance provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. BB&T had a return on equity of 12.23% and a net margin of 23.58%. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the firm posted $1.01 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts expect that BB&T Co. will post 4.24 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 14th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Tuesday, August 13th. BB&T’s dividend payout ratio (DPR) is presently 44.44%.

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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