BT Group (NYSE:BT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “BT is one of the world’s leading providers of communications services and solutions, serving customers in more than 170 countries. Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to its customers for use at home, at work and on the move; broadband and internet products and services and converged fixed/mobile products and services. BT consists principally of four lines of business: BT Global Services, BT Retail, BT Wholesale and Openreach. British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York. “
Separately, Royal Bank of Canada lowered shares of BT Group from an “outperform” rating to a “hold” rating in a report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $243.80.
Hedge funds have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH acquired a new position in BT Group in the 1st quarter valued at approximately $6,932,000. Jane Street Group LLC increased its stake in BT Group by 201.9% in the 2nd quarter. Jane Street Group LLC now owns 393,623 shares of the utilities provider’s stock valued at $5,692,000 after buying an additional 263,245 shares during the period. Millennium Management LLC increased its stake in BT Group by 126.9% in the 1st quarter. Millennium Management LLC now owns 323,951 shares of the utilities provider’s stock valued at $5,235,000 after buying an additional 181,179 shares during the period. Aperio Group LLC increased its stake in BT Group by 31.3% in the 3rd quarter. Aperio Group LLC now owns 758,774 shares of the utilities provider’s stock valued at $11,207,000 after buying an additional 180,999 shares during the period. Finally, SG Americas Securities LLC increased its stake in BT Group by 261.1% in the 2nd quarter. SG Americas Securities LLC now owns 103,137 shares of the utilities provider’s stock valued at $1,491,000 after buying an additional 74,579 shares during the period. Institutional investors and hedge funds own 0.79% of the company’s stock.
BT Group Company Profile
BT Group plc provides communications services worldwide. Its Consumer segment sells telephones, baby monitors, and Wi-Fi extenders through high street retailers, online BT Shop, and Website BT.com; and offers home phone, copper and fiber broadband, TV, and mobile services in various packages. The company's EE segment offers 2G, 3G, and 4G mobile network services; broadband, fixed-voice, and TV services; and postpaid and prepaid plans, and emergency services network.
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