Concert Wealth Management Inc. acquired a new position in BCE Inc. (NYSE:BCE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,521 shares of the company’s stock, valued at approximately $215,000.
Other institutional investors have also modified their holdings of the company. CIBC World Markets Inc. boosted its position in shares of BCE by 1.7% in the second quarter. CIBC World Markets Inc. now owns 15,513,050 shares of the company’s stock worth $733,922,000 after buying an additional 257,656 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of BCE by 0.8% in the first quarter. Wellington Management Group LLP now owns 12,303,401 shares of the company’s stock worth $562,913,000 after buying an additional 93,906 shares during the last quarter. Thomaspartners Inc. boosted its position in shares of BCE by 3.9% in the first quarter. Thomaspartners Inc. now owns 3,960,227 shares of the company’s stock worth $180,349,000 after buying an additional 148,338 shares during the last quarter. Scotia Capital Inc. boosted its position in shares of BCE by 7.6% in the first quarter. Scotia Capital Inc. now owns 3,124,240 shares of the company’s stock worth $142,286,000 after buying an additional 220,379 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of BCE by 36.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,410,636 shares of the company’s stock worth $109,780,000 after buying an additional 640,070 shares during the last quarter. 44.50% of the stock is owned by institutional investors and hedge funds.
BCE Inc. (NYSE:BCE) traded up 0.33% during midday trading on Friday, hitting $45.88. 591,809 shares of the stock traded hands. The company’s 50-day moving average is $46.25 and its 200 day moving average is $46.74. The firm has a market cap of $39.89 billion, a P/E ratio of 19.17 and a beta of 0.40. BCE Inc. has a 12-month low of $35.96 and a 12-month high of $49.03.
BCE (NYSE:BCE) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.03. BCE had a net margin of 13.02% and a return on equity of 22.89%. The firm earned $5.34 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the firm posted $0.87 earnings per share. BCE’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts anticipate that BCE Inc. will post $2.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 15th. Investors of record on Thursday, September 15th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend was Tuesday, September 13th. BCE’s dividend payout ratio is currently 88.14%.
BCE has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Citigroup Inc. lifted their price target on shares of BCE from $62.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 19th. BMO Capital Markets reaffirmed a “buy” rating and set a $65.00 price target on shares of BCE in a research note on Friday, August 5th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $66.00 price target (up from $62.00) on shares of BCE in a research note on Sunday, August 7th. Finally, Desjardins reaffirmed a “hold” rating and set a $64.00 price target on shares of BCE in a research note on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. BCE currently has an average rating of “Hold” and a consensus target price of $57.30.
BCE Company Profile
BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.
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