Northwestern Mutual Wealth Management Co. Raises Position in BCE Inc. (NYSE:BCE)

Northwestern Mutual Wealth Management Co. raised its holdings in shares of BCE Inc. (NYSE:BCEGet Rating) (TSE:BCE) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,980 shares of the utilities provider’s stock after acquiring an additional 344 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in BCE were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Wealth Alliance LLC purchased a new position in shares of BCE during the 2nd quarter valued at $30,000. Massmutual Trust Co. FSB ADV purchased a new position in shares of BCE during the 2nd quarter valued at $39,000. Core Alternative Capital purchased a new position in shares of BCE during the 1st quarter valued at $42,000. Rosenberg Matthew Hamilton purchased a new position in shares of BCE during the 2nd quarter valued at $52,000. Finally, Tcwp LLC purchased a new position in shares of BCE during the 1st quarter valued at $61,000. Hedge funds and other institutional investors own 43.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BCE. Canaccord Genuity Group lowered their target price on shares of BCE from C$70.00 to C$66.00 in a research note on Friday, July 22nd. Scotiabank lifted their target price on shares of BCE from C$65.50 to C$66.75 in a research note on Friday, November 4th. Barclays lowered their target price on shares of BCE from $51.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday, October 10th. Royal Bank of Canada lifted their price target on shares of BCE from C$63.00 to C$64.00 in a report on Friday, November 4th. Finally, National Bank Financial reduced their price target on shares of BCE from C$71.00 to C$68.00 in a report on Thursday, September 29th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $64.18.

BCE Price Performance

BCE stock opened at $45.75 on Wednesday. BCE Inc. has a 12 month low of $39.88 and a 12 month high of $59.34. The company has a current ratio of 0.60, a quick ratio of 0.54 and a debt-to-equity ratio of 1.40. The company has a 50-day moving average price of $45.04 and a 200 day moving average price of $48.96. The stock has a market cap of $41.72 billion, a PE ratio of 18.83, a P/E/G ratio of 4.05 and a beta of 0.55.

BCE Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 16th. Investors of record on Thursday, December 15th will be paid a dividend of $0.675 per share. The ex-dividend date is Wednesday, December 14th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 5.90%. BCE’s dividend payout ratio is presently 114.81%.

About BCE

(Get Rating)

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communication products and services, as well as consumer electronics products.

Featured Articles

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:BCEGet Rating) (TSE:BCE).

Institutional Ownership by Quarter for BCE (NYSE:BCE)

Receive News & Ratings for BCE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BCE and related companies with MarketBeat.com's FREE daily email newsletter.