BCE Inc. (NYSE:BCE) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp reduced its stake in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 55.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 550,700 shares of the utilities provider's stock after selling 699,078 shares during the period. Alberta Investment Management Corp owned approximately 0.06% of BCE worth $12,759,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allworth Financial LP grew its position in shares of BCE by 217.6% during the 4th quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 790 shares during the period. Blue Trust Inc. grew its position in shares of BCE by 1,147.3% during the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider's stock valued at $32,000 after acquiring an additional 1,285 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of BCE by 67.6% during 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. Brown Brothers Harriman & Co. acquired a new stake in shares of BCE during the 3rd quarter valued at about $51,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of BCE during the 3rd quarter valued at about $65,000. 41.46% of the stock is owned by institutional investors and hedge funds.

BCE Trading Up 1.6 %

Shares of NYSE BCE traded up $0.38 during midday trading on Friday, reaching $23.95. 2,577,605 shares of the stock were exchanged, compared to its average volume of 3,466,162. The company has a 50 day simple moving average of $23.38 and a 200 day simple moving average of $29.04. The stock has a market capitalization of $21.84 billion, a P/E ratio of 199.54, a PEG ratio of 4.03 and a beta of 0.57. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. BCE Inc. has a twelve month low of $21.87 and a twelve month high of $38.01.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last announced its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. BCE had a net margin of 0.99% and a return on equity of 17.89%. As a group, equities analysts expect that BCE Inc. will post 1.94 earnings per share for the current year.

BCE Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $0.6965 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.79 annualized dividend and a yield of 11.63%. BCE's dividend payout ratio (DPR) is presently 2,350.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BCE. Morgan Stanley began coverage on BCE in a research report on Monday, December 16th. They set an "underweight" rating on the stock. Barclays reaffirmed an "underweight" rating on shares of BCE in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lowered shares of BCE from a "neutral" rating to an "underweight" rating in a research note on Friday, February 7th. Canaccord Genuity Group lowered shares of BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Finally, Bank of America lowered shares of BCE from a "neutral" rating to an "underperform" rating in a research note on Tuesday, January 14th. Four analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $40.50.

BCE Company 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.