Principal Financial Group Inc. Has $790,000 Stock Holdings in BCE Inc. (NYSE:BCE)

Principal Financial Group Inc. cut its stake in BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 98.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,700 shares of the utilities provider's stock after selling 1,723,285 shares during the period. Principal Financial Group Inc.'s holdings in BCE were worth $790,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BCE. Commonwealth Equity Services LLC increased its position in BCE by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 203,291 shares of the utilities provider's stock valued at $6,581,000 after acquiring an additional 5,158 shares during the period. Letko Brosseau & Associates Inc. raised its holdings in BCE by 2.1% during the second quarter. Letko Brosseau & Associates Inc. now owns 3,514,662 shares of the utilities provider's stock worth $113,812,000 after purchasing an additional 71,917 shares in the last quarter. Triasima Portfolio Management inc. bought a new stake in BCE during the second quarter worth approximately $1,064,000. AGF Management Ltd. lifted its position in BCE by 5,036.0% in the second quarter. AGF Management Ltd. now owns 1,354,413 shares of the utilities provider's stock worth $43,842,000 after purchasing an additional 1,328,042 shares during the period. Finally, LPL Financial LLC boosted its stake in BCE by 3.6% during the 2nd quarter. LPL Financial LLC now owns 1,191,208 shares of the utilities provider's stock valued at $38,559,000 after purchasing an additional 41,655 shares in the last quarter. 41.46% of the stock is currently owned by institutional investors.

BCE Stock Up 2.4 %

NYSE:BCE traded up $0.56 during trading hours on Friday, hitting $23.82. 3,950,089 shares of the stock traded hands, compared to its average volume of 3,407,645. The firm has a 50 day moving average price of $26.48 and a 200 day moving average price of $31.28. The firm has a market cap of $21.73 billion, a price-to-earnings ratio of 340.29, a PEG ratio of 4.04 and a beta of 0.54. BCE Inc. has a fifty-two week low of $22.18 and a fifty-two week high of $41.77. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.737 per share. This represents a $2.95 annualized dividend and a yield of 12.38%. This is a positive change from BCE's previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. BCE's payout ratio is presently 4,214.29%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BCE shares. Canaccord Genuity Group reaffirmed a "hold" rating on shares of BCE in a research note on Tuesday, November 5th. Morgan Stanley initiated coverage on shares of BCE in a research note on Monday, December 16th. They issued an "underweight" rating on the stock. National Bank Financial lowered shares of BCE from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. Barclays decreased their price target 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. Finally, Edward Jones downgraded BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, BCE has a consensus rating of "Hold" and a consensus 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.