Bank of Hawaii raised its position in BCE Inc. (NYSE:BCE) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,854 shares of the company’s stock after buying an additional 7,454 shares during the period. Bank of Hawaii’s holdings in BCE were worth $6,285,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of BCE. Aviance Capital Management LLC increased its position in BCE by 55.1% in the second quarter. Aviance Capital Management LLC now owns 596,489 shares of the company’s stock valued at $28,220,000 after buying an additional 211,909 shares during the last quarter. Legal & General Group Plc increased its position in BCE by 2.3% in the first quarter. Legal & General Group Plc now owns 1,421,628 shares of the company’s stock valued at $65,055,000 after buying an additional 31,633 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its position in BCE by 9.6% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 161,873 shares of the company’s stock valued at $7,658,000 after buying an additional 14,155 shares during the last quarter. AMP Capital Investors Ltd increased its position in BCE by 2.8% in the first quarter. AMP Capital Investors Ltd now owns 88,309 shares of the company’s stock valued at $4,058,000 after buying an additional 2,378 shares during the last quarter. Finally, Creative Planning increased its position in BCE by 4.0% in the second quarter. Creative Planning now owns 10,212 shares of the company’s stock valued at $483,000 after buying an additional 395 shares during the last quarter. 44.51% of the stock is owned by hedge funds and other institutional investors.
Shares of BCE Inc. (NYSE:BCE) remained flat at $46.17 during mid-day trading on Wednesday. The stock had a trading volume of 364,451 shares. The stock has a market cap of $40.15 billion, a PE ratio of 19.29 and a beta of 0.40. The stock’s 50 day moving average is $46.16 and its 200-day moving average is $46.76. BCE Inc. has a 52-week low of $35.96 and a 52-week high of $49.03.
BCE (NYSE:BCE) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. BCE had a return on equity of 22.89% and a net margin of 13.02%. The company had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the prior year, the firm earned $0.87 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. Equities analysts predict that BCE Inc. will post $2.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, October 15th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend was Tuesday, September 13th. BCE’s dividend payout ratio (DPR) is 88.14%.
BCE has been the topic of several research reports. Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Wednesday, October 5th. Citigroup Inc. raised their price objective on BCE from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, July 19th. JPMorgan Chase & Co. restated an “overweight” rating and set a $66.00 price objective (up from $62.00) on shares of BCE in a report on Sunday, August 7th. Desjardins restated a “hold” rating and set a $64.00 price objective on shares of BCE in a report on Wednesday, August 10th. Finally, BMO Capital Markets restated a “buy” rating and set a $65.00 price objective on shares of BCE in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target 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.
Want to see what other hedge funds are holding BCE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BCE Inc. (NYSE:BCE).
Receive News & Ratings for BCE Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BCE Inc. and related companies with MarketBeat.com's FREE daily email newsletter.