Wetherby Asset Management Inc. Lowers Position in BT Group PLC (BT)

Wetherby Asset Management Inc. decreased its stake in shares of BT Group PLC (NYSE:BT) by 13.4% during the second quarter, Holdings Channel reports. The fund owned 13,971 shares of the utilities provider’s stock after selling 2,158 shares during the period. Wetherby Asset Management Inc.’s holdings in BT Group PLC were worth $272,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BT. Guggenheim Capital LLC purchased a new stake in BT Group PLC during the fourth quarter valued at about $393,000. Bank of Montreal Can raised its stake in BT Group PLC by 252.2% in the first quarter. Bank of Montreal Can now owns 46,862 shares of the utilities provider’s stock valued at $941,000 after buying an additional 33,555 shares in the last quarter. Bollard Group LLC raised its stake 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 in the last quarter. Baxter Bros Inc. raised its stake 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 in the last quarter. Finally, Profund Advisors LLC raised its stake in BT Group PLC by 51.0% in the first quarter. Profund Advisors LLC now owns 55,954 shares of the utilities provider’s stock valued at $1,124,000 after buying an additional 18,887 shares in the last quarter. 1.03% of the stock is owned by hedge funds and other institutional investors.

BT Group PLC (NYSE BT) opened at 19.24 on Thursday. BT Group PLC has a 52-week low of $18.06 and a 52-week high of $26.76. The stock’s 50 day moving average price is $19.88 and its 200-day moving average price is $19.89. The company has a market capitalization of $38.24 billion, a P/E ratio of 18.15 and a beta of 1.05.

The firm also recently declared a semiannual dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 11th will be paid a $0.6804 dividend. This represents a dividend yield of 6.86%. The ex-dividend date is Wednesday, August 9th. BT Group PLC’s dividend payout ratio (DPR) is presently 90.39%.

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Several equities research analysts recently issued reports on BT shares. Macquarie raised shares of BT Group PLC from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $270.00 to $330.00 in a report on Tuesday, June 27th. Citigroup Inc. reissued a “buy” rating and issued a GBX 360 ($4.67) target price on shares of BT Group PLC in a report on Monday, July 31st. Deutsche Bank AG reissued a “sell” rating and issued a GBX 265 ($3.44) target price on shares of BT Group PLC in a report on Wednesday, August 9th. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 410 ($5.32) target price on shares of BT Group PLC in a report on Monday, July 31st. Finally, Zacks Investment Research lowered shares of BT Group PLC from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $339.33.

About BT Group PLC

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Institutional Ownership by Quarter for BT Group PLC (NYSE:BT)

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