Janney Montgomery Scott LLC Purchases New Position in BCE Inc. (NYSE:BCE)

Janney Montgomery Scott LLC bought a new position in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 410,782 shares of the utilities provider's stock, valued at approximately $9,522,000.

A number of other large investors have also recently made changes to their positions in the stock. Hexagon Capital Partners LLC raised its holdings in shares of BCE by 121.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 675 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in BCE in the third quarter worth approximately $51,000. Bruce G. Allen Investments LLC lifted its holdings in BCE by 321.0% during the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider's stock worth $58,000 after buying an additional 1,268 shares during the period. Legacy Investment Solutions LLC bought a new stake in BCE during the 3rd quarter valued at $65,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of BCE by 67.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider's stock valued at $46,000 after acquiring an additional 799 shares during the period. 41.46% of the stock is owned by hedge funds and other institutional investors.

BCE Stock Performance

Shares of BCE traded down $0.16 during trading hours on Tuesday, reaching $23.91. 3,380,372 shares of the company traded hands, compared to its average volume of 3,363,904. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The business has a fifty day moving average price of $24.57 and a 200-day moving average price of $30.27. BCE Inc. has a 12-month low of $21.87 and a 12-month high of $41.15. The stock has a market capitalization of $21.81 billion, a P/E ratio of 341.50, a P/E/G ratio of 3.83 and a beta of 0.56.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were given a $0.737 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a yield of 12.33%. This is a positive change from BCE's previous quarterly dividend of $0.73. BCE's dividend payout ratio is currently 4,028.57%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BCE shares. Canaccord Genuity Group cut BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Barclays restated an "underweight" rating on shares of BCE in a report on Tuesday, January 21st. Edward Jones lowered shares of BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Morgan Stanley started coverage on shares of BCE in a research note on Monday, December 16th. They issued an "underweight" rating for the company. Finally, Bank of America downgraded BCE from a "neutral" rating to an "underperform" rating in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $45.00.

BCE Profile

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.