Envestnet Asset Management Inc. Reduces Stake in BT Group plc (NYSE:BT)

Envestnet Asset Management Inc. trimmed its position in shares of BT Group plc (NYSE:BT) by 15.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,935 shares of the utilities provider’s stock after selling 6,025 shares during the period. Envestnet Asset Management Inc.’s holdings in BT Group were worth $635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of BT. Royal Bank of Canada increased its holdings in shares of BT Group by 22.8% in the second quarter. Royal Bank of Canada now owns 1,245,026 shares of the utilities provider’s stock valued at $24,166,000 after purchasing an additional 230,781 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of BT Group by 1,839.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,048,354 shares of the utilities provider’s stock valued at $20,349,000 after purchasing an additional 994,311 shares during the last quarter. Sit Investment Associates Inc. increased its holdings in shares of BT Group by 2.3% in the third quarter. Sit Investment Associates Inc. now owns 737,900 shares of the utilities provider’s stock valued at $14,197,000 after purchasing an additional 16,820 shares during the last quarter. Aperio Group LLC increased its holdings in shares of BT Group by 40.8% in the third quarter. Aperio Group LLC now owns 497,907 shares of the utilities provider’s stock valued at $9,580,000 after purchasing an additional 144,367 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of BT Group by 10.2% in the third quarter. Wells Fargo & Company MN now owns 431,485 shares of the utilities provider’s stock valued at $8,302,000 after purchasing an additional 40,037 shares during the last quarter. Institutional investors and hedge funds own 0.96% of the company’s stock.

BT Group plc (NYSE BT) traded up $0.49 on Friday, reaching $18.91. 967,576 shares of the company traded hands, compared to its average volume of 912,654. BT Group plc has a 1-year low of $16.15 and a 1-year high of $24.49. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.77 and a quick ratio of 0.75. The company has a market capitalization of $37,330.00, a PE ratio of 17.84 and a beta of 0.93.

The company also recently disclosed a None dividend, which will be paid on Monday, February 12th. Investors of record on Friday, December 29th will be given a dividend of $0.297 per share. The ex-dividend date is Thursday, December 28th. This represents a yield of 3.84%. BT Group’s dividend payout ratio is 90.57%.

Several research firms have commented on BT. Zacks Investment Research upgraded shares of BT Group from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Bank of America raised shares of BT Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Numis Securities reissued a “buy” rating and issued a GBX 390 ($5.29) target price on shares of BT Group in a research report on Sunday, September 24th. Deutsche Bank reissued a “sell” rating and issued a GBX 265 ($3.59) target price on shares of BT Group in a research report on Wednesday, November 1st. Finally, Credit Suisse Group cut shares of BT Group to a “neutral” rating and reduced their target price for the company from GBX 360 ($4.88) to GBX 310 ($4.20) in a research report on Monday, October 9th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $317.18.

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BT Group Company Profile

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

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