UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $12.83 Million Holdings in BCE Inc. (NYSE:BCE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 28.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 368,589 shares of the utilities provider’s stock after selling 146,020 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in BCE were worth $12,827,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC raised its holdings in BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after buying an additional 675 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in BCE during the 3rd quarter worth about $51,000. Brown Lisle Cummings Inc. boosted its position in BCE by 60.0% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock worth $52,000 after acquiring an additional 600 shares during the period. Bruce G. Allen Investments LLC boosted its position in BCE by 321.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 1,268 shares during the period. Finally, Fairscale Capital LLC acquired a new stake in BCE during the 2nd quarter worth about $76,000. Institutional investors and hedge funds own 41.46% of the company’s stock.

BCE Price Performance

NYSE BCE opened at $26.78 on Friday. BCE Inc. has a fifty-two week low of $26.45 and a fifty-two week high of $41.77. The stock’s 50-day moving average is $30.33 and its two-hundred day moving average is $32.66. The firm has a market cap of $24.43 billion, a P/E ratio of 382.57, a price-to-earnings-growth ratio of 4.18 and a beta of 0.54. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.737 per share. This is a positive change from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 11.01%. BCE’s dividend payout ratio is currently 4,228.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BCE shares. Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group restated a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Canaccord Genuity Group lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. National Bank Financial lowered BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, BMO Capital Markets raised their price target on BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research note on Thursday, September 19th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, BCE currently has an average rating of “Hold” and an average price target of $45.00.

BCE Company 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.