The Wells Fargo & Company MN Sells 3,992 Shares of BT Group plc (BT)

The Wells Fargo & Company MN Sells 3,992 Shares of BT Group plc (BT)

A number of other institutional investors have also recently modified their holdings of BT. Baxter Bros Inc. increased its position in BT Group plc by 2.3% in the first quarter. Baxter Bros Inc. now owns 18,100 shares of the utilities provider’s stock valued at $364,000 after buying an additional 400 shares during the period. Envestnet Asset Management Inc. increased its position in BT Group plc by 0.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 73,048 shares of the utilities provider’s stock valued at $1,684,000 after buying an additional 525 shares during the period. Bollard Group LLC increased its position in BT Group plc by 1.4% in the first quarter. Bollard Group LLC now owns 46,540 shares of the utilities provider’s stock valued at $935,000 after buying an additional 664 shares during the period. Guardian Capital Advisors LP increased its position in BT Group plc by 16.0% in the fourth quarter. Guardian Capital Advisors LP now owns 14,150 shares of the utilities provider’s stock valued at $344,000 after buying an additional 1,950 shares during the period. Finally, Pinnacle Associates Ltd. increased its position in BT Group plc by 9.6% in the fourth quarter. Pinnacle Associates Ltd. now owns 23,074 shares of the utilities provider’s stock valued at $531,000 after buying an additional 2,029 shares during the period. 1.10% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company MN lowered its stake in shares of BT Group plc (NYSE:BT) by 1.1% during the first quarter, Holdings Channel reports. The institutional investor owned 366,238 shares of the utilities provider’s stock after selling 3,992 shares during the period. Wells Fargo & Company MN’s holdings in BT Group plc were worth $7,358,000 at the end of the most recent reporting period.

BT Group plc (NYSE:BT) opened at 19.84 on Monday. The company has a market cap of $39.25 billion, a PE ratio of 16.06 and a beta of 1.07. The firm’s 50-day moving average is $20.11 and its 200-day moving average is $21.11. BT Group plc has a 52-week low of $19.14 and a 52-week high of $32.85.

BT Group plc (NYSE:BT) last posted its quarterly earnings results on Wednesday, May 10th. The utilities provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. BT Group plc had a return on equity of 35.80% and a net margin of 10.29%. The business had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.88 billion. On average, equities research analysts anticipate that BT Group plc will post $3.83 EPS for the current year.

BT has been the topic of several research analyst reports. Haitong Bank reissued a “buy” rating and issued a GBX 445 ($5.72) target price on shares of BT Group plc in a report on Monday, February 27th. HSBC Holdings plc reissued a “buy” rating and issued a GBX 425 ($5.46) target price on shares of BT Group plc in a report on Tuesday, February 7th. Zacks Investment Research raised shares of BT Group plc from a “sell” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Monday, May 8th. Beaufort Securities lowered their target price on shares of BT Group plc from GBX 390 ($5.01) to GBX 340 ($4.37) and set a “buy” rating on the stock in a report on Friday, May 12th. Finally, Citigroup Inc reissued a “buy” rating on shares of BT Group plc in a report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $346.24. About BT Group plc

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