Corient Private Wealth LLC Sells 17,751 Shares of BCE Inc. (NYSE:BCE)

Corient Private Wealth LLC reduced its stake in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 54.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,817 shares of the utilities provider's stock after selling 17,751 shares during the period. Corient Private Wealth LLC's holdings in BCE were worth $343,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allworth Financial LP increased its position in shares of BCE by 217.6% during the fourth quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider's stock worth $27,000 after buying an additional 790 shares during the period. Blue Trust Inc. boosted its position in BCE by 1,147.3% during the fourth 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 last quarter. MassMutual Private Wealth & Trust FSB raised its position 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 worth $46,000 after acquiring an additional 799 shares in the last quarter. Vision Financial Markets LLC acquired a new position in shares of BCE in the 4th quarter valued at about $49,000. Finally, Legacy Investment Solutions LLC bought 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.

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BCE Stock Up 1.8 %

BCE stock traded up $0.40 during trading on Thursday, hitting $22.22. 643,473 shares of the company were exchanged, compared to its average volume of 3,058,523. The company has a market capitalization of $20.48 billion, a P/E ratio of 185.13, a PEG ratio of 4.13 and a beta of 0.57. The business's 50 day moving average is $23.55 and its 200 day moving average is $26.74. BCE Inc. has a 52 week low of $21.62 and a 52 week high of $36.17. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26.

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

BCE Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.6965 dividend. This represents a $2.79 annualized dividend and a dividend yield of 12.54%. The ex-dividend date is Friday, March 14th. BCE's dividend payout ratio is presently 2,291.67%.

Analysts Set New Price Targets

Several brokerages have issued reports on BCE. Morgan Stanley began coverage on BCE in a research note on Monday, December 16th. They issued an "underweight" rating on the stock. JPMorgan Chase & Co. downgraded shares of BCE from a "neutral" rating to an "underweight" rating in a research note on Friday, February 7th. National Bankshares restated a "sector perform" rating on shares of BCE in a research note on Tuesday, March 11th. Barclays reiterated an "underweight" rating on shares of BCE in a report on Tuesday, January 21st. Finally, Bank of America downgraded BCE from a "neutral" rating to an "underperform" rating in a report on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, BCE currently has a consensus rating of "Hold" and an average target price of $40.00.

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.