Bleakley Financial Group Increases Stake in British American Tobacco

Bleakley Financial Group LLC, an institutional investment firm, has recently augmented its shareholding in British American Tobacco p.l.c. (NYSE:BTI), enhancing its portfolio by 7.6% during the second quarter as revealed in its latest 13F filing with the Securities and Exchange Commission. This additional investment brought Bleakley Financial Group's total ownership to 53,571 shares after acquiring 3,803 more shares. By the close of the quarter, the value of Bleakley's holdings in the tobacco giant was estimated to be approximately $1,779,000.

Fellow Investors Follow Suit

Other institutional investors have also adjusted their positions in British American Tobacco. EverSource Wealth Advisors LLC increased their stake by 7.5%, now owning 4,362 shares valued at $145,000. Parallel Advisors LLC grew their share count by 4.7%, totaling 7,032 shares worth $233,000. Checchi Capital Advisers LLC expanded their holdings by 3.0%, reaching 13,129 shares with a market value of $436,000. Furthermore, both Insigneo Advisory Services LLC and AMG National Trust Bank also made notable increases to their investments in the company.

Analyst Ratings and Market Sentiment

The sentiment among Wall Street analysts appears favorable for British American Tobacco, with various reports affecting stock ratings. For instance, StockNews.com upgraded the company's rating from 'hold' to 'buy', and Citigroup initiated coverage with a 'buy' rating. Conversely, Argus downgraded their rating from 'buy' to 'hold'. Morgan Stanley, meanwhile, initiated coverage with an 'overweight' rating. Combining these assessments, the consensus rating tilts towards 'Moderate Buy'.

British American Tobacco’s Market Movement

British American Tobacco's share price has been volatile, opening at $28.86 on a recent Thursday. The company has witnessed a wide fluctuation in stock prices over the past year, reaching a high of $42.22 and dropping to a low of $28.35. Financial health indicators such as the debt-to-equity ratio, quick ratio, and current ratio are keenly monitored by investors to assess the company’s stability and capacity to meet short-term obligations.

About British American Tobacco

British American Tobacco p.l.c. is a globally recognized company specializing in tobacco and nicotine products. It holds a diverse portfolio of products that include vapour devices, tobacco heating products, and modern oral products, as well as traditional tobacco offerings. Customers worldwide know the company for various brand names such as Vuse, Lucky Strike, and Camel, covering a wide array of consumer preferences and habits.

Bleakley, Investment, Tobacco