Caxton Associates LP Buys Shares of 12,000 BB&T Co. (BBT)
Caxton Associates LP bought a new stake in shares of BB&T Co. (NYSE:BBT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,000 shares of the insurance provider’s stock, valued at approximately $563,000.
Several other hedge funds and other institutional investors have also made changes to their positions in BBT. Janus Henderson Group PLC raised its position in shares of BB&T by 3,687.8% during the 2nd quarter. Janus Henderson Group PLC now owns 4,085,012 shares of the insurance provider’s stock valued at $185,500,000 after buying an additional 3,977,166 shares in the last quarter. Vanguard Group Inc. raised its position in BB&T by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 55,519,721 shares of the insurance provider’s stock worth $2,521,151,000 after purchasing an additional 1,325,018 shares during the period. American Century Companies Inc. raised its position in BB&T by 12.6% in the 3rd quarter. American Century Companies Inc. now owns 8,117,000 shares of the insurance provider’s stock worth $381,012,000 after purchasing an additional 910,225 shares during the period. Koch Industries Inc. purchased a new stake in BB&T in the 2nd quarter worth about $680,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in BB&T in the 3rd quarter worth about $27,849,000. Hedge funds and other institutional investors own 65.39% of the company’s stock.
BB&T Co. (NYSE BBT) opened at $50.28 on Wednesday. The company has a market cap of $39,248.82, a P/E ratio of 16.42, a PEG ratio of 2.29 and a beta of 0.99. BB&T Co. has a 1 year low of $41.17 and a 1 year high of $51.11. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.85 and a current ratio of 0.86.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Thursday, November 9th. BB&T’s dividend payout ratio (DPR) is presently 49.07%.
In other news, insider Donna C. Goodrich sold 26,869 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $49.13, for a total transaction of $1,320,073.97. Following the transaction, the insider now directly owns 78,589 shares of the company’s stock, valued at $3,861,077.57. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Donna C. Goodrich sold 10,799 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $46.77, for a total transaction of $505,069.23. Following the transaction, the insider now owns 47,182 shares in the company, valued at $2,206,702.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 182,150 shares of company stock worth $8,712,859. Corporate insiders own 0.36% of the company’s stock.
A number of analysts recently weighed in on BBT shares. Zacks Investment Research lowered shares of BB&T from a “hold” rating to a “sell” rating in a research report on Friday, November 3rd. Morgan Stanley increased their price objective on shares of BB&T from $47.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, October 20th. Citigroup reissued a “neutral” rating and issued a $49.00 price objective (up from $47.00) on shares of BB&T in a research report on Monday, October 9th. SunTrust Banks reissued a “buy” rating and issued a $52.00 price objective on shares of BB&T in a research report on Friday, October 20th. Finally, Stephens raised shares of BB&T from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a research report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $49.24.
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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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