BCE Inc. (NYSE:BCE) Position Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 18.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,149,501 shares of the utilities provider's stock after selling 919,227 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.45% of BCE worth $144,362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. AE Wealth Management LLC raised its position in BCE by 2.6% during the 2nd quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider's stock worth $466,000 after buying an additional 367 shares during the last quarter. Caldwell Sutter Capital Inc. increased its position in BCE by 3.9% during the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider's stock worth $413,000 after purchasing an additional 445 shares during the period. First Affirmative Financial Network raised its position in BCE by 6.1% in the third quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider's stock worth $285,000 after acquiring an additional 472 shares in the last quarter. Prospera Financial Services Inc grew its position in BCE by 6.8% during the third quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider's stock worth $262,000 after buying an additional 478 shares during the period. Finally, Simplicity Wealth LLC boosted its position in BCE by 4.7% during the second quarter. Simplicity Wealth LLC now owns 11,331 shares of the utilities provider's stock worth $367,000 after purchasing an additional 509 shares in the last quarter. Hedge funds and other institutional investors own 41.46% of the company's stock.

BCE Stock Up 1.5 %

Shares of BCE stock traded up $0.39 on Wednesday, hitting $27.03. The stock had a trading volume of 3,683,241 shares, compared to its average volume of 2,397,191. The stock's 50 day moving average is $31.45 and its 200-day moving average is $33.01. BCE Inc. has a 52-week low of $26.45 and a 52-week high of $41.77. The firm has a market capitalization of $24.65 billion, a price-to-earnings ratio of 386.07, a P/E/G ratio of 4.20 and a beta of 0.59. 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 company also recently disclosed 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. The ex-dividend date is Monday, December 16th. This is a boost from BCE's previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a yield of 10.91%. BCE's dividend payout ratio (DPR) is 4,228.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BCE shares. Cibc World Mkts raised shares of BCE from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 2nd. BMO Capital Markets lifted their price objective on BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a research report on Thursday, September 19th. 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 report on Monday, November 11th. Edward Jones downgraded shares of BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Finally, Canaccord Genuity Group downgraded BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Nine research 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 company. According to MarketBeat.com, BCE presently has a consensus rating of "Hold" and an average 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.