Atria Investments Inc Purchases 3,208 Shares of BCE Inc. (NYSE:BCE)

Atria Investments Inc raised its stake in BCE Inc. (NYSE:BCE) (TSE:BCE) by 4.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 76,161 shares of the utilities provider’s stock after purchasing an additional 3,208 shares during the quarter. Atria Investments Inc’s holdings in BCE were worth $2,650,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of BCE. ESL Trust Services LLC purchased a new position in BCE in the 1st quarter worth approximately $31,000. Massmutual Trust Co. FSB ADV grew its stake in BCE by 3,480.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 1,044 shares during the period. Hexagon Capital Partners LLC lifted its position in BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 675 shares during the period. Brown Lisle Cummings Inc. boosted its position in shares of BCE by 60.0% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 600 shares in the last quarter. Finally, Bruce G. Allen Investments LLC increased its holdings in shares of BCE by 321.0% during the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 1,268 shares in the last quarter. 41.46% of the stock is currently owned by institutional investors.

BCE Stock Down 1.4 %

Shares of BCE opened at $26.83 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. BCE Inc. has a 52-week low of $26.78 and a 52-week high of $41.77. The stock has a fifty day simple moving average of $33.13 and a two-hundred day simple moving average of $33.46. The company has a market capitalization of $24.48 billion, a PE ratio of 383.29, a price-to-earnings-growth ratio of 4.28 and a beta of 0.59.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 10.99%. This is a boost from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio (DPR) is 4,214.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BCE shares. Cibc World Mkts upgraded BCE from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. BMO Capital Markets lifted their target price on shares of BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, September 19th. National Bank Financial lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Canaccord Genuity Group cut BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Barclays reduced their price objective on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.00.

About BCE

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.