First Trust Advisors LP trimmed its holdings in BT Group plc (NYSE:BT) by 11.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,870 shares of the utilities provider’s stock after selling 9,533 shares during the quarter. First Trust Advisors LP’s holdings in BT Group were worth $1,068,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Barclays PLC boosted its holdings in shares of BT Group by 377.3% in the first quarter. Barclays PLC now owns 10,500 shares of the utilities provider’s stock valued at $170,000 after acquiring an additional 8,300 shares during the period. Advisor Partners LLC acquired a new stake in shares of BT Group in the second quarter valued at approximately $154,000. PNC Financial Services Group Inc. boosted its holdings in shares of BT Group by 79.4% in the first quarter. PNC Financial Services Group Inc. now owns 10,756 shares of the utilities provider’s stock valued at $174,000 after acquiring an additional 4,759 shares during the period. LPL Financial LLC acquired a new stake in shares of BT Group in the first quarter valued at approximately $228,000. Finally, ETRADE Capital Management LLC boosted its holdings in shares of BT Group by 24.8% in the first quarter. ETRADE Capital Management LLC now owns 15,751 shares of the utilities provider’s stock valued at $255,000 after acquiring an additional 3,125 shares during the period. 0.79% of the stock is owned by hedge funds and other institutional investors.
BT Group stock opened at $15.15 on Tuesday. BT Group plc has a 12 month low of $13.53 and a 12 month high of $19.79. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.82 and a quick ratio of 0.80. The company has a market cap of $29.59 billion, a PE ratio of 8.06, a P/E/G ratio of 9.06 and a beta of 0.92.
BT has been the subject of several research analyst reports. ValuEngine downgraded BT Group from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Jefferies Financial Group raised BT Group from a “hold” rating to a “buy” rating in a report on Wednesday, June 20th. Finally, Royal Bank of Canada downgraded BT Group from an “outperform” rating to a “hold” rating in a report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $268.00.
BT Group Company Profile
BT Group Plc provides communication solutions and services. Its principal activities include fixed-lines services, broadband, mobile and TV products and services as well as networked IT services. The company has following customer-facing lines of business: Consumer; Business and Public Sector; Global Services; Wholesale and Ventures; Technology, Service and Operations; and Openreach.
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