Advisors Asset Management Inc. lessened its stake in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 51.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,677 shares of the utilities provider’s stock after selling 8,155 shares during the quarter. Advisors Asset Management Inc.’s holdings in BCE were worth $360,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. AT Bancorp bought a new stake in BCE during the 2nd quarter valued at $149,000. Quantbot Technologies LP bought a new stake in BCE during the 3rd quarter valued at $190,000. Howland Capital Management LLC bought a new stake in BCE during the 3rd quarter valued at $202,000. WFG Advisors LP boosted its position in BCE by 0.4% during the 2nd quarter. WFG Advisors LP now owns 4,503 shares of the utilities provider’s stock valued at $203,000 after acquiring an additional 16 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in BCE during the 2nd quarter valued at $203,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of BCE, Inc. (NYSE:BCE) opened at $48.33 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.51 and a quick ratio of 0.47. The firm has a market capitalization of $43,662.18, a price-to-earnings ratio of 18.80, a PEG ratio of 5.26 and a beta of 0.35. BCE, Inc. has a 52-week low of $42.44 and a 52-week high of $48.87.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 15th will be given a $0.558 dividend. The ex-dividend date is Thursday, December 14th. This represents a $2.23 dividend on an annualized basis and a dividend yield of 4.62%. BCE’s payout ratio is 93.50%.
BCE has been the topic of several recent research reports. Bank of America initiated coverage on BCE in a research report on Tuesday, November 21st. They set a “buy” rating and a $54.00 target price on the stock. National Bank Financial raised BCE from a “sector perform” rating to an “outperform” rating in a research report on Thursday, November 2nd. Zacks Investment Research cut BCE from a “buy” rating to a “sell” rating in a research report on Wednesday, October 25th. Morgan Stanley dropped their target price on BCE from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 27th. Finally, BidaskClub raised BCE from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. BCE presently has an average rating of “Buy” and a consensus target price of $56.50.
BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.
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