Cetera Investment Advisers Trims Stake in BCE Inc. (BCE)

Cetera Investment Advisers trimmed its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 15.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,582 shares of the utilities provider’s stock after selling 1,884 shares during the period. Cetera Investment Advisers’ holdings in BCE were worth $506,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Great West Life Assurance Co. Can lifted its holdings in shares of BCE by 5.2% during the 3rd quarter. Great West Life Assurance Co. Can now owns 8,169,005 shares of the utilities provider’s stock valued at $381,970,000 after buying an additional 405,067 shares during the last quarter. APG Asset Management N.V. lifted its holdings in shares of BCE by 39.4% during the 4th quarter. APG Asset Management N.V. now owns 6,260,116 shares of the utilities provider’s stock valued at $251,237,000 after buying an additional 1,768,100 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of BCE by 24.8% during the 4th quarter. Acadian Asset Management LLC now owns 3,471,341 shares of the utilities provider’s stock valued at $166,662,000 after buying an additional 689,362 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of BCE by 1.4% during the 3rd quarter. Wells Fargo & Company MN now owns 3,170,049 shares of the utilities provider’s stock valued at $148,454,000 after buying an additional 44,251 shares during the last quarter. Finally, Mawer Investment Management Ltd. lifted its holdings in shares of BCE by 3.4% during the 3rd quarter. Mawer Investment Management Ltd. now owns 2,553,196 shares of the utilities provider’s stock valued at $119,690,000 after buying an additional 82,762 shares during the last quarter. Institutional investors and hedge funds own 44.62% of the company’s stock.

Shares of BCE Inc. (NYSE BCE) opened at $44.48 on Thursday. BCE Inc. has a 1-year low of $42.44 and a 1-year high of $49.06. The company has a quick ratio of 0.39, a current ratio of 0.43 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $40,078.00, a P/E ratio of 18.53, a P/E/G ratio of 4.63 and a beta of 0.30.

BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, February 8th. The utilities provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. BCE had a return on equity of 19.85% and a net margin of 12.25%. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.96 billion. During the same period in the previous year, the company earned $0.76 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. analysts predict that BCE Inc. will post 2.74 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Thursday, March 15th will be issued a $0.601 dividend. This is a positive change from BCE’s previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 5.40%. The ex-dividend date is Wednesday, March 14th. BCE’s payout ratio is 95.83%.

BCE declared that its Board of Directors has approved a stock buyback program on Thursday, February 8th that allows the company to repurchase $175.00 million in outstanding shares. This repurchase authorization allows the utilities provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Several equities research analysts have recently issued reports on BCE shares. Canaccord Genuity reiterated a “hold” rating and set a $60.00 price target on shares of BCE in a report on Thursday, November 2nd. Barclays boosted their target price on BCE from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Friday, February 2nd. Desjardins lowered BCE from a “buy” rating to a “hold” rating in a report on Friday, January 12th. Finally, Morgan Stanley boosted their target price on BCE from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 17th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $56.00.

TRADEMARK VIOLATION NOTICE: “Cetera Investment Advisers Trims Stake in BCE Inc. (BCE)” was reported by Markets Daily and is the sole property of of Markets Daily. If you are reading this article on another site, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this article can be accessed at https://www.themarketsdaily.com/2018/02/15/cetera-investment-advisers-trims-stake-in-bce-inc-bce.html.

BCE Company Profile

BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.

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:BCE) (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.

Latest News

Leave a Reply