CIBC Asset Management Inc trimmed its holdings in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 0.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,475,741 shares of the utilities provider's stock after selling 44,349 shares during the period. CIBC Asset Management Inc owned approximately 0.60% of BCE worth $190,602,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. AE Wealth Management LLC boosted its position in shares of BCE by 2.6% during 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 during the last quarter. Caldwell Sutter Capital Inc. grew its stake in shares of BCE by 3.9% in the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider's stock worth $413,000 after acquiring an additional 445 shares in the last quarter. First Affirmative Financial Network raised its holdings in shares of BCE by 6.1% in 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 during the last quarter. Simplicity Wealth LLC lifted 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 purchasing an additional 509 shares in the last quarter. Finally, Brown Lisle Cummings Inc. grew its position in BCE by 60.0% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider's stock worth $52,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 41.46% of the company's stock.
BCE Stock Performance
NYSE BCE remained flat at $26.84 during trading on Friday. 3,050,646 shares of the company's stock traded hands, compared to its average volume of 2,335,536. The stock has a market capitalization of $24.49 billion, a PE ratio of 379.43, a price-to-earnings-growth ratio of 4.22 and a beta of 0.59. 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's 50-day simple moving average is $32.95 and its 200 day simple moving average is $33.42. BCE Inc. has a 1-year low of $26.51 and a 1-year high of $41.77.
BCE Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a yield of 10.98%. The ex-dividend date is Monday, December 16th. This is a boost from BCE's previous quarterly dividend of $0.73. BCE's payout ratio is currently 4,228.57%.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on BCE shares. Edward Jones downgraded BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Canaccord Genuity Group downgraded BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. BMO Capital Markets lifted their target price on BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a research note on Thursday, September 19th. Barclays reduced their price target on shares of BCE from $34.00 to $30.00 and set an "equal weight" rating for the company in a research report on Monday. Finally, Cibc World Mkts raised shares of BCE from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $45.00.
View Our Latest Stock Report on BCE
About BCE
(
Free Report)
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.
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