International Assets Investment Management LLC Takes $3.22 Million Position in BCE Inc. (NYSE:BCE)

International Assets Investment Management LLC purchased a new position in BCE Inc. (NYSE:BCE) (TSE:BCE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 81,792 shares of the utilities provider’s stock, valued at approximately $3,221,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BCE. Invesco Ltd. boosted its position in shares of BCE by 6.0% during the 3rd quarter. Invesco Ltd. now owns 1,928,620 shares of the utilities provider’s stock worth $73,615,000 after acquiring an additional 109,866 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of BCE by 57.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,318,302 shares of the utilities provider’s stock valued at $88,908,000 after purchasing an additional 843,626 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of BCE by 1.5% in the 4th quarter. Raymond James Trust N.A. now owns 29,477 shares of the utilities provider’s stock valued at $1,161,000 after purchasing an additional 431 shares during the last quarter. Claret Asset Management Corp raised its holdings in shares of BCE by 54.2% during the 3rd quarter. Claret Asset Management Corp now owns 86,587 shares of the utilities provider’s stock worth $3,307,000 after buying an additional 30,444 shares in the last quarter. Finally, MQS Management LLC bought a new stake in shares of BCE during the 3rd quarter worth $603,000. Institutional investors and hedge funds own 41.46% of the company’s stock.

BCE Trading Up 0.1 %

Shares of NYSE BCE opened at $32.24 on Thursday. The stock has a market cap of $29.41 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 4.32 and a beta of 0.56. The firm has a 50 day moving average price of $35.25 and a two-hundred day moving average price of $37.88. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.61 and a current ratio of 0.65. BCE Inc. has a 52-week low of $31.82 and a 52-week high of $48.38.

BCE (NYSE:BCE) (TSE:BCE) last announced its earnings results on Thursday, February 8th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. BCE had a return on equity of 17.13% and a net margin of 8.82%. The firm had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.82 billion. As a group, equities analysts forecast that BCE Inc. will post 2.26 EPS for the current year.

BCE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a $0.742 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.97 dividend on an annualized basis and a dividend yield of 9.21%. This is an increase from BCE’s previous quarterly dividend of $0.70. BCE’s payout ratio is 174.56%.

Analyst Upgrades and Downgrades

Several research analysts have commented on BCE shares. TD Securities downgraded BCE from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. BMO Capital Markets reissued a “market perform” rating and issued a $46.00 price objective (down previously from $54.00) on shares of BCE in a research note on Tuesday, April 2nd. Barclays decreased their target price on shares of BCE from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 9th. JPMorgan Chase & Co. lowered their price target on shares of BCE from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Finally, Argus downgraded BCE from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.00.

BCE Profile

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.