Crossmark Global Holdings Inc. Cuts Position in BCE Inc. (NYSE:BCE)

Crossmark Global Holdings Inc. cut its stake in BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 41.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,177 shares of the utilities provider's stock after selling 45,634 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in BCE were worth $2,233,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. ESL Trust Services LLC purchased a new position in shares of BCE in the 1st quarter valued at about $31,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of BCE by 3,480.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider's stock worth $35,000 after purchasing an additional 1,044 shares during the period. Hexagon Capital Partners LLC grew its position in shares of BCE by 121.2% during the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider's stock worth $43,000 after acquiring an additional 675 shares during the last quarter. 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 valued at $52,000 after buying an additional 600 shares in the last quarter. Finally, Bruce G. Allen Investments LLC grew its holdings in shares of BCE by 321.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider's stock worth $58,000 after acquiring an additional 1,268 shares during the last quarter. Hedge funds and other institutional investors own 41.46% of the company's stock.

BCE Stock Performance

Shares of NYSE BCE traded down $0.49 during midday trading on Wednesday, hitting $27.21. 7,305,669 shares of the stock traded hands, compared to its average volume of 2,319,300. The firm has a 50-day moving average of $33.31 and a two-hundred day moving average of $33.51. The firm has a market capitalization of $24.82 billion, a P/E ratio of 388.64, a PEG ratio of 4.28 and a beta of 0.59. BCE Inc. has a one year low of $27.11 and a one year high of $41.77. 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 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 issued a $0.737 dividend. This is an increase from BCE's previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a yield of 10.84%. The ex-dividend date of this dividend is Monday, December 16th. BCE's payout ratio is currently 4,228.57%.

Analyst Ratings Changes

BCE has been the topic of several analyst reports. National Bank Financial downgraded BCE from a "strong-buy" rating to a "hold" rating in a report on Monday, September 30th. Canaccord Genuity Group downgraded BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Cibc World Mkts raised BCE from a "hold" rating to a "strong-buy" rating in a report on Friday, August 2nd. Canaccord Genuity Group reaffirmed a "hold" rating on shares of BCE in a research note on Tuesday, November 5th. Finally, Barclays cut their price objective on BCE from $34.00 to $30.00 and set an "equal weight" rating on the stock in a report on Monday. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $45.00.

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.