Keybank National Association OH trimmed its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 7.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,569 shares of the utilities provider’s stock after selling 2,944 shares during the quarter. Keybank National Association OH’s holdings in BCE were worth $1,709,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BCE. Ingalls & Snyder LLC grew its position in BCE by 1.4% in the 2nd quarter. Ingalls & Snyder LLC now owns 47,642 shares of the utilities provider’s stock valued at $2,167,000 after acquiring an additional 655 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in BCE in the 1st quarter valued at about $6,956,000. Northwestern Mutual Wealth Management Co. grew its position in BCE by 8.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,475 shares of the utilities provider’s stock valued at $154,000 after acquiring an additional 271 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in BCE by 19.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 419,227 shares of the utilities provider’s stock valued at $18,610,000 after acquiring an additional 68,432 shares in the last quarter. Finally, Cpwm LLC grew its position in BCE by 72.8% in the 1st quarter. Cpwm LLC now owns 21,224 shares of the utilities provider’s stock valued at $942,000 after acquiring an additional 8,944 shares in the last quarter. 44.02% of the stock is owned by hedge funds and other institutional investors.

Shares of BCE opened at $46.74 on Friday. The stock has a 50-day simple moving average of $45.97 and a 200-day simple moving average of $44.97. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.53 and a current ratio of 0.57. The stock has a market capitalization of $41.67 billion, a PE ratio of 17.25, a PEG ratio of 4.92 and a beta of 0.41. BCE Inc. has a 1 year low of $38.75 and a 1 year high of $47.14.

BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.90 billion. BCE had a return on equity of 19.15% and a net margin of 12.51%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. Analysts predict that BCE Inc. will post 2.69 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a $0.601 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from BCE’s previous quarterly dividend of $0.59. BCE’s dividend payout ratio (DPR) is presently 87.45%.

BCE has been the subject of several research reports. Barclays reaffirmed an “average” rating and issued a $66.00 target price on shares of BCE in a research report on Sunday, May 5th. Desjardins downgraded BCE to a “hold” rating in a research report on Friday, August 2nd. Citigroup downgraded BCE from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd. BMO Capital Markets reaffirmed an “average” rating and issued a $63.00 target price on shares of BCE in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut BCE from an “overweight” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research note on Monday, July 8th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. BCE currently has a consensus rating of “Hold” and an average target price of $54.90.

About BCE

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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