BCE Inc. (NYSE:BCE) Shares Bought by National Bank of Canada FI

National Bank of Canada FI boosted its position in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,873,961 shares of the utilities provider's stock after buying an additional 864,472 shares during the quarter. BCE accounts for approximately 0.8% of National Bank of Canada FI's investment portfolio, making the stock its 18th largest position. National Bank of Canada FI owned 2.07% of BCE worth $656,421,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Toronto Dominion Bank boosted its holdings in BCE by 12.0% during the 2nd quarter. Toronto Dominion Bank now owns 8,450,810 shares of the utilities provider's stock valued at $273,553,000 after acquiring an additional 905,857 shares during the period. CIBC Asset Management Inc grew its holdings in shares of BCE by 23.8% in the second quarter. CIBC Asset Management Inc now owns 5,520,090 shares of the utilities provider's stock worth $178,677,000 after purchasing an additional 1,061,488 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in BCE by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,068,728 shares of the utilities provider's stock worth $163,932,000 after buying an additional 21,487 shares during the period. Federated Hermes Inc. increased its stake in BCE by 5.5% in the 2nd quarter. Federated Hermes Inc. now owns 3,564,393 shares of the utilities provider's stock worth $115,379,000 after buying an additional 186,659 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in BCE by 48.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,563,534 shares of the utilities provider's stock valued at $123,877,000 after buying an additional 1,166,800 shares in the last quarter. Institutional investors own 41.46% of the company's stock.

BCE Stock Down 0.7 %

BCE traded down $0.19 during trading on Friday, hitting $26.78. The stock had a trading volume of 2,717,443 shares, compared to its average volume of 4,205,429. The stock has a 50 day simple moving average of $30.49 and a two-hundred day simple moving average of $32.72. 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 $26.45 and a twelve month high of $41.77. The company has a market capitalization of $24.43 billion, a PE ratio of 382.93, a PEG ratio of 4.18 and a beta of 0.54.

BCE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a dividend of $0.737 per share. This represents a $2.95 annualized dividend and a yield of 11.01%. This is an increase from BCE's previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. BCE's payout ratio is 4,228.57%.

Analyst Ratings Changes

BCE has been the topic of a number of research reports. Barclays reduced their target price on shares of BCE from $34.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Monday, November 11th. Edward Jones cut BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. National Bank Financial downgraded BCE from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 30th. Canaccord Genuity Group restated a "hold" rating on shares of BCE in a report on Tuesday, November 5th. Finally, Canaccord Genuity Group cut shares of BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Nine 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's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price 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.