BCE Inc. (NYSE:BCE) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 28.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 368,589 shares of the utilities provider's stock after selling 146,020 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in BCE were worth $12,827,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Hexagon Capital Partners LLC increased its holdings in shares of BCE by 121.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 675 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of BCE during the 3rd quarter worth $51,000. Brown Lisle Cummings Inc. grew its position in shares of BCE by 60.0% in the second quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider's stock valued at $52,000 after purchasing an additional 600 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in BCE by 321.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider's stock valued at $58,000 after buying an additional 1,268 shares during the last quarter. Finally, Fairscale Capital LLC purchased a new stake in shares of BCE in the second quarter valued at $76,000. Hedge funds and other institutional investors own 41.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BCE. BMO Capital Markets lifted their price target on shares of BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a report on Thursday, September 19th. National Bank Financial lowered BCE from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. Canaccord Genuity Group reaffirmed a "hold" rating on shares of BCE in a research report on Tuesday, November 5th. Barclays reduced their target price on 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 lowered 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $45.00.

BCE Trading Down 0.7 %

NYSE BCE traded down $0.19 during mid-day trading on Friday, hitting $26.78. The company's stock had a trading volume of 2,717,443 shares, compared to its average volume of 4,205,429. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60. BCE Inc. has a 52-week low of $26.45 and a 52-week high of $41.77. The stock's fifty day simple moving average is $30.33 and its two-hundred day simple moving average is $32.66. The firm has a market capitalization of $24.43 billion, a P/E ratio of 382.57, a price-to-earnings-growth 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 issued a dividend of $0.737 per share. This is a positive change from BCE's previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. This represents a $2.95 annualized dividend and a dividend yield of 11.01%. BCE's payout ratio is presently 4,228.57%.

About BCE

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.