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

Allianz Asset Management GmbH lifted its holdings in BCE Inc. (NYSE:BCEFree Report) (TSE:BCE) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,449 shares of the utilities provider’s stock after acquiring an additional 8,921 shares during the period. Allianz Asset Management GmbH’s holdings in BCE were worth $3,381,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BCE. Invesco Ltd. grew its holdings in BCE by 6.0% during the 3rd quarter. Invesco Ltd. now owns 1,928,620 shares of the utilities provider’s stock valued at $73,615,000 after buying an additional 109,866 shares in the last quarter. UBS Group AG lifted its stake in BCE by 32.6% in the 4th quarter. UBS Group AG now owns 862,951 shares of the utilities provider’s stock worth $33,983,000 after purchasing an additional 212,047 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of BCE by 57.2% during 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 during the last quarter. D.A. Davidson & CO. grew its position in shares of 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 purchasing an additional 981 shares in the last quarter. Finally, Atria Wealth Solutions Inc. increased its holdings in shares of BCE by 26.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 13,719 shares of the utilities provider’s stock worth $546,000 after purchasing an additional 2,841 shares during the last quarter. Hedge funds and other institutional investors own 41.46% of the company’s stock.

BCE Price Performance

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

BCE (NYSE:BCEGet Free Report) (TSE:BCE) last released its earnings results on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share for the quarter, hitting the consensus estimate 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 return on equity of 16.86% and a net margin of 7.53%. As a group, sell-side analysts anticipate that BCE Inc. will post 2.21 EPS for the current year.

BCE Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a dividend of $0.738 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 8.56%. The ex-dividend date is Friday, June 14th. BCE’s dividend payout ratio (DPR) is presently 204.86%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BCE. CIBC upgraded BCE from a “neutral” rating to a “sector outperform” rating in a report on Tuesday, April 23rd. Argus cut shares of BCE from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. lowered their price objective 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 dropped their target price on BCE from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Tuesday, April 9th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $46.00 price objective (down previously from $54.00) on shares of BCE in a research report on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, BCE presently has a consensus rating of “Hold” and a consensus price target of $49.00.

Check Out Our Latest Analysis 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.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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