Raymond James & Associates Sells 252,339 Shares of BCE Inc. (NYSE:BCE)

Raymond James & Associates reduced its position in BCE Inc. (NYSE:BCEFree Report) (TSE:BCE) by 10.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,140,659 shares of the utilities provider’s stock after selling 252,339 shares during the period. Raymond James & Associates’ holdings in BCE were worth $84,299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. ST Germain D J Co. Inc. bought a new stake in shares of BCE in the second quarter valued at about $25,000. CGC Financial Services LLC purchased a new position in BCE in the second quarter valued at about $27,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in BCE in the third quarter valued at about $30,000. Larson Financial Group LLC grew its stake in BCE by 120,000.0% in the third quarter. Larson Financial Group LLC now owns 1,201 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 1,200 shares during the last quarter. Finally, JCIC Asset Management Inc. grew its stake in BCE by 26.5% in the fourth quarter. JCIC Asset Management Inc. now owns 1,189 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 249 shares during the last quarter. 41.46% of the stock is currently owned by institutional investors.

BCE Price Performance

Shares of BCE stock opened at $33.87 on Wednesday. BCE Inc. has a fifty-two week low of $33.54 and a fifty-two week high of $48.38. The firm has a market capitalization of $30.90 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 4.49 and a beta of 0.56. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.61 and a current ratio of 0.65. The stock’s 50-day simple moving average is $37.81 and its 200-day simple moving average is $38.69.

BCE (NYSE:BCEGet Free Report) (TSE:BCE) last issued its quarterly earnings results on Thursday, February 8th. The utilities provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. BCE had a return on equity of 17.13% and a net margin of 8.82%. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.82 billion. As a group, equities analysts forecast that BCE Inc. will post 2.37 earnings per share for the current fiscal year.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be issued a dividend of $0.742 per share. This is an increase from BCE’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $2.97 dividend on an annualized basis and a dividend yield of 8.76%. BCE’s payout ratio is 175.15%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on BCE from $58.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Argus lowered BCE from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. TD Securities lowered BCE from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Barclays cut their target price on BCE from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.00.

View Our Latest Analysis on BCE

BCE Profile

(Free Report)

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 three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communication products and services, as well as consumer electronics products.

Featured Stories

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:BCEFree Report) (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.