Allianz Asset Management GmbH Grows Position in BCE Inc. (NYSE:BCE)

Allianz Asset Management GmbH boosted its holdings in BCE Inc. (NYSE:BCEFree Report) (TSE:BCE) by 11.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,449 shares of the utilities provider’s stock after buying an additional 8,921 shares during the period. Allianz Asset Management GmbH’s holdings in BCE were worth $3,381,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cape Investment Advisory Inc. boosted its position in shares of BCE by 84.1% in the fourth quarter. Cape Investment Advisory Inc. now owns 659 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 301 shares during the period. Hexagon Capital Partners LLC boosted its holdings in BCE by 239.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 707 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 499 shares during the period. JCIC Asset Management Inc. boosted its holdings in BCE by 26.5% in the 4th 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 period. Cary Street Partners Investment Advisory LLC grew its position in shares of BCE by 147.7% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,744 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Tucker Asset Management LLC increased its holdings in shares of BCE by 35.7% in the third quarter. Tucker Asset Management LLC now owns 2,413 shares of the utilities provider’s stock worth $92,000 after purchasing an additional 635 shares during the period. Institutional investors own 41.46% of the company’s stock.

BCE Price Performance

BCE stock opened at $34.49 on Friday. The firm has a market cap of $31.46 billion, a P/E ratio of 23.95, a P/E/G ratio of 5.44 and a beta of 0.57. The firm’s fifty day moving average is $33.41 and its 200 day moving average is $36.78. BCE Inc. has a 52 week low of $31.82 and a 52 week high of $46.58. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.57 and a current ratio of 0.61.

BCE (NYSE:BCEGet Free Report) (TSE:BCE) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. BCE had a return on equity of 16.86% and a net margin of 7.53%. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.47 billion. Research analysts predict that BCE Inc. will post 2.21 earnings per share for the current year.

BCE Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a $0.738 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.95 annualized dividend and a yield of 8.56%. BCE’s payout ratio is currently 204.86%.

Analysts Set New Price Targets

Several equities analysts recently commented on BCE shares. Argus cut BCE from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. CIBC upgraded shares of BCE from a “neutral” rating to a “sector outperform” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. dropped their target price on shares of BCE from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Barclays decreased their price target on shares of BCE from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 9th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $46.00 price objective (down from $54.00) on shares of BCE in a report on Tuesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $49.00.

Check Out Our Latest Report on BCE

BCE Company 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 two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.

Read More

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.