Steward Partners Investment Advisory LLC Sells 1,556 Shares of BCE Inc. (NYSE:BCE)

Steward Partners Investment Advisory LLC decreased its position in shares of BCE Inc. (NYSE:BCEFree Report) (TSE:BCE) by 19.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,480 shares of the utilities provider’s stock after selling 1,556 shares during the period. Steward Partners Investment Advisory LLC’s holdings in BCE were worth $255,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Invesco Ltd. increased its position in BCE by 6.0% during the third quarter. Invesco Ltd. now owns 1,928,620 shares of the utilities provider’s stock valued at $73,615,000 after acquiring an additional 109,866 shares during the last quarter. UBS Group AG increased its position in BCE by 32.6% during the fourth quarter. UBS Group AG now owns 862,951 shares of the utilities provider’s stock valued at $33,983,000 after acquiring an additional 212,047 shares during the last quarter. Wellington Management Group LLP increased its position in BCE by 57.2% during the third quarter. Wellington Management Group LLP now owns 2,318,302 shares of the utilities provider’s stock valued at $88,908,000 after acquiring an additional 843,626 shares during the last quarter. D.A. Davidson & CO. increased its position in BCE by 4.2% during the fourth quarter. D.A. Davidson & CO. now owns 24,071 shares of the utilities provider’s stock valued at $948,000 after acquiring an additional 981 shares during the last quarter. Finally, Atria Wealth Solutions Inc. increased its position in BCE by 26.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 13,719 shares of the utilities provider’s stock valued at $546,000 after acquiring an additional 2,841 shares during the last quarter. Institutional investors own 41.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on BCE shares. BMO Capital Markets reissued a “market perform” rating and set a $46.00 target price (down from $54.00) on shares of BCE in a research note on Tuesday, April 2nd. CIBC raised shares of BCE from a “neutral” rating to a “sector outperform” rating in a research note on Tuesday, April 23rd. Argus lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Finally, Barclays lowered their target price on shares of BCE from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 9th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $49.00.

Read Our Latest Stock Analysis on BCE

BCE Stock Down 0.8 %

NYSE:BCE opened at $34.23 on Monday. BCE Inc. has a 1-year low of $31.82 and a 1-year high of $46.58. The company has a 50-day moving average of $33.42 and a 200 day moving average of $36.71. The firm has a market cap of $31.23 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 5.40 and a beta of 0.57. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.61 and a quick ratio of 0.57.

BCE (NYSE:BCEGet Free Report) (TSE:BCE) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.47 billion. BCE had a net margin of 7.53% and a return on equity of 16.86%. As a group, research analysts anticipate that BCE Inc. will post 2.21 EPS for the current fiscal year.

BCE Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a $0.738 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.95 dividend on an annualized basis and a yield of 8.62%. BCE’s dividend payout ratio is presently 204.86%.

About BCE

(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.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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