Livingston Group Asset Management CO operating as Southport Capital Management Acquires 649 Shares of BB&T Co. (BBT)

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Livingston Group Asset Management CO operating as Southport Capital Management grew its holdings in BB&T Co. (NYSE:BBT) by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,660 shares of the insurance provider’s stock after acquiring an additional 649 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in BB&T were worth $775,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Pacer Advisors Inc. boosted its holdings in shares of BB&T by 13.9% during the 3rd quarter. Pacer Advisors Inc. now owns 41,596 shares of the insurance provider’s stock worth $2,019,000 after buying an additional 5,061 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of BB&T by 2.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 42,789 shares of the insurance provider’s stock worth $2,077,000 after buying an additional 992 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of BB&T by 4.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 230,272 shares of the insurance provider’s stock worth $11,177,000 after buying an additional 8,784 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of BB&T by 31.6% during the 3rd quarter. Mackenzie Financial Corp now owns 9,412 shares of the insurance provider’s stock worth $457,000 after buying an additional 2,262 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of BB&T by 42.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 40,973 shares of the insurance provider’s stock worth $1,989,000 after buying an additional 12,198 shares during the period. 65.16% of the stock is owned by institutional investors.

Several research firms recently issued reports on BBT. ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Zacks Investment Research downgraded shares of BB&T from a “buy” rating to a “hold” rating in a report on Wednesday, December 19th. Stephens downgraded shares of BB&T from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 6th. Raymond James downgraded shares of BB&T from an “outperform” rating to a “market perform” rating and set a $48.49 price target for the company. in a report on Thursday, April 4th. Finally, Barclays increased their price target on shares of BB&T from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $53.86.

Shares of BBT stock traded down $0.06 during mid-day trading on Wednesday, reaching $49.45. The company’s stock had a trading volume of 1,042,738 shares, compared to its average volume of 6,329,079. BB&T Co. has a 1-year low of $40.68 and a 1-year high of $56.03. The stock has a market cap of $37.82 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 1.20 and a beta of 1.13. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.88 and a current ratio of 0.89.

BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, January 17th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. BB&T had a net margin of 24.15% and a return on equity of 12.13%. The company had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the prior year, the company posted $0.83 EPS. The business’s revenue was up .5% on a year-over-year basis. On average, sell-side analysts predict that BB&T Co. will post 4.29 earnings per share for the current year.

In related news, Director K. David Jr. Boyer sold 2,289 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $51.57, for a total transaction of $118,043.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick C. Graney III bought 3,890 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were purchased at an average price of $51.04 per share, with a total value of $198,545.60. Following the transaction, the director now directly owns 11,456 shares in the company, valued at $584,714.24. The disclosure for this purchase can be found here. Corporate 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.

Further Reading: Depreciation

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

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