Janus Henderson Group PLC Cuts Stock Holdings in BCE Inc. (NYSE:BCE)

Janus Henderson Group PLC lessened its holdings in BCE Inc. (NYSE:BCE) (TSE:BCE) by 30.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 17,398 shares of the utilities provider’s stock after selling 7,700 shares during the period. Janus Henderson Group PLC’s holdings in BCE were worth $606,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Hexagon Capital Partners LLC lifted its holdings in BCE by 121.2% during the third 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. bought a new position in shares of BCE in the 3rd quarter worth $51,000. Bruce G. Allen Investments LLC lifted its stake in shares of 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 purchasing an additional 1,268 shares during the last quarter. Fairscale Capital LLC bought a new stake in BCE during the second quarter valued at about $76,000. Finally, Redhawk Wealth Advisors Inc. purchased a new position in BCE in the third quarter valued at about $201,000. Hedge funds and other institutional investors own 41.46% of the company’s stock.

Wall Street Analyst Weigh In

BCE has been the subject of several analyst reports. Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. BMO Capital Markets lifted their price target on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, September 19th. Barclays decreased their price objective on BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BCE presently has a consensus rating of “Hold” and an average target price of $45.00.

BCE Price Performance

NYSE BCE opened at $25.52 on Friday. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 364.57, a PEG ratio of 4.04 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. The stock’s fifty day moving average price is $29.51 and its 200 day moving average price is $32.40. BCE Inc. has a 1 year low of $25.24 and a 1 year high of $41.77.

BCE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.737 dividend. This represents a $2.95 annualized dividend and a dividend yield of 11.55%. This is a boost from BCE’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. BCE’s dividend payout ratio (DPR) is presently 4,214.29%.

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.