Financial Architects Inc raised its stake in BCE Inc. (NYSE:BCE) (TSE:BCE) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,934 shares of the utilities provider’s stock after acquiring an additional 421 shares during the period. Financial Architects Inc’s holdings in BCE were worth $4,238,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. DAVENPORT & Co LLC grew its position in BCE by 70.1% in the second quarter. DAVENPORT & Co LLC now owns 102,307 shares of the utilities provider’s stock valued at $5,046,000 after acquiring an additional 42,147 shares during the period. Forsta AP Fonden boosted its stake in BCE by 2.9% in the first quarter. Forsta AP Fonden now owns 129,300 shares of the utilities provider’s stock worth $5,836,000 after purchasing an additional 3,600 shares in the last quarter. Brinker Capital Investments LLC boosted its stake in BCE by 20.8% in the second quarter. Brinker Capital Investments LLC now owns 51,137 shares of the utilities provider’s stock worth $2,530,000 after purchasing an additional 8,791 shares in the last quarter. Parallel Advisors LLC boosted its stake in BCE by 19.5% in the second quarter. Parallel Advisors LLC now owns 2,427 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 396 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in BCE by 14.5% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 85,156 shares of the utilities provider’s stock worth $4,191,000 after purchasing an additional 10,794 shares in the last quarter. Hedge funds and other institutional investors own 43.11% of the company’s stock.
Shares of BCE stock traded down $0.42 during trading hours on Wednesday, hitting $50.88. The company’s stock had a trading volume of 73,831 shares, compared to its average volume of 1,288,419. BCE Inc. has a 12 month low of $39.91 and a 12 month high of $53.00. The stock has a 50 day moving average of $50.67 and a 200 day moving average of $48.72. The company has a market capitalization of $46.09 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 4.13 and a beta of 0.45. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.83 and a quick ratio of 0.78.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Wednesday, September 15th will be issued a $0.7011 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $2.80 annualized dividend and a dividend yield of 5.51%. BCE’s dividend payout ratio (DPR) is currently 127.56%.
Several equities analysts have recently issued reports on the company. Royal Bank of Canada upped their price target on BCE from $61.00 to $63.00 and gave the company a “sector perform” rating in a research note on Friday, August 6th. TD Securities upped their price target on BCE from C$67.00 to C$70.00 and gave the company a “buy” rating in a research note on Monday, August 23rd. Canaccord Genuity raised BCE from a “hold” rating to a “buy” rating and upped their price target for the company from $62.00 to $66.00 in a research note on Thursday, August 5th. Scotiabank increased their target price on BCE from C$63.00 to C$66.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. Finally, BMO Capital Markets increased their target price on BCE from C$61.50 to C$63.50 and gave the company an “outperform” rating in a research note on Friday, August 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, BCE presently has an average rating of “Hold” and an average price target of $60.45.
BCE Company Profile
BCE, Inc is a telecommunications and media company, which engages in the provision of communication services to residential, business, and wholesale customers. It operates through the following segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment covers integrated digital wireless voice and data communications products and services to residential and business customers.
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