PEAK6 Investments LLC Acquires 57,184 Shares of BCE Inc. (NYSE:BCE)

PEAK6 Investments LLC increased its stake in BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 142.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,284 shares of the utilities provider's stock after acquiring an additional 57,184 shares during the period. PEAK6 Investments LLC's holdings in BCE were worth $3,385,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BCE. AE Wealth Management LLC raised its position in shares of BCE by 2.6% in the second quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider's stock valued at $466,000 after buying an additional 367 shares in the last quarter. Caldwell Sutter Capital Inc. boosted its holdings in BCE by 3.9% during the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider's stock valued at $413,000 after acquiring an additional 445 shares during the period. First Affirmative Financial Network increased its stake in shares of BCE by 6.1% during the third quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider's stock valued at $285,000 after purchasing an additional 472 shares in the last quarter. Prospera Financial Services Inc increased its position in BCE by 6.8% during the third quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider's stock valued at $262,000 after acquiring an additional 478 shares during the last quarter. Finally, Simplicity Wealth LLC raised its position in shares of BCE by 4.7% during the second quarter. Simplicity Wealth LLC now owns 11,331 shares of the utilities provider's stock valued at $367,000 after buying an additional 509 shares during the last quarter. 41.46% of the stock is currently owned by institutional investors and hedge funds.

BCE Trading Up 0.0 %

Shares of BCE traded up $0.01 during mid-day trading on Friday, hitting $27.03. 1,448,158 shares of the company's stock traded hands, compared to its average volume of 4,472,699. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. BCE Inc. has a 1 year low of $26.45 and a 1 year high of $41.77. The firm has a market capitalization of $24.66 billion, a P/E ratio of 386.14, a PEG ratio of 4.20 and a beta of 0.59. The business's 50-day moving average price is $31.13 and its 200-day moving average price is $32.91.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 10.91%. This is a boost from BCE's previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. BCE's dividend payout ratio (DPR) is 4,214.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. National Bank Financial lowered BCE from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 30th. Canaccord Genuity Group reaffirmed a "hold" rating on shares of BCE in a research note on Tuesday, November 5th. BMO Capital Markets lifted their target price on shares of BCE from $48.00 to $51.00 and gave the company a "market perform" rating in a research note on Thursday, September 19th. Barclays reduced their price target on BCE from $34.00 to $30.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. Finally, Edward Jones downgraded shares of BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $45.00.

About BCE

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.