BCE Inc. (BCE) Shares Sold by Icon Advisers Inc. Co.
Icon Advisers Inc. Co. reduced its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 57.8% during the third quarter, Holdings Channel reports. The institutional investor owned 39,500 shares of the company’s stock after selling 54,200 shares during the period. Icon Advisers Inc. Co.’s holdings in BCE were worth $1,824,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of BCE. Rehmann Capital Advisory Group raised its stake in BCE by 0.5% in the second quarter. Rehmann Capital Advisory Group now owns 4,907 shares of the company’s stock worth $232,000 after buying an additional 23 shares in the last quarter. Genesee Valley Trust Co. raised its stake in BCE by 0.3% in the third quarter. Genesee Valley Trust Co. now owns 7,508 shares of the company’s stock worth $347,000 after buying an additional 23 shares in the last quarter. Bremer Trust National Association raised its stake in BCE by 0.4% in the second quarter. Bremer Trust National Association now owns 9,191 shares of the company’s stock worth $435,000 after buying an additional 41 shares in the last quarter. WFG Advisors LP raised its stake in BCE by 0.8% in the second quarter. WFG Advisors LP now owns 5,675 shares of the company’s stock worth $268,000 after buying an additional 44 shares in the last quarter. Finally, Garrison Financial Corp raised its stake in BCE by 0.6% in the third quarter. Garrison Financial Corp now owns 13,000 shares of the company’s stock worth $600,000 after buying an additional 75 shares in the last quarter. 44.43% of the stock is currently owned by institutional investors.
BCE Inc. (NYSE:BCE) traded up 0.55% during mid-day trading on Tuesday, hitting $43.54. 715,743 shares of the stock traded hands. BCE Inc. has a 52-week low of $35.96 and a 52-week high of $49.03. The firm has a market cap of $37.89 billion, a P/E ratio of 18.61 and a beta of 0.38. The firm’s 50-day moving average is $44.48 and its 200 day moving average is $46.35.
BCE (NYSE:BCE) last issued its earnings results on Thursday, November 3rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.22. BCE had a net margin of 13.05% and a return on equity of 22.73%. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter last year, the business earned $0.93 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. Equities analysts predict that BCE Inc. will post $2.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Thursday, December 15th will be issued a $0.509 dividend. This represents a $2.04 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Tuesday, December 13th. BCE’s dividend payout ratio (DPR) is currently 88.14%.
A number of research firms recently issued reports on BCE. Credit Suisse Group AG set a $58.00 target price on shares of BCE and gave the company a “hold” rating in a research report on Sunday, November 6th. Zacks Investment Research upgraded shares of BCE from a “sell” rating to a “hold” rating in a research report on Thursday, September 1st. Desjardins reiterated a “hold” rating and set a $64.00 target price on shares of BCE in a research report on Wednesday, August 10th. BMO Capital Markets reiterated a “buy” rating and set a $65.00 target price on shares of BCE in a research report on Friday, August 5th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of BCE in a research report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. BCE presently has an average rating of “Hold” and a consensus price target of $59.22.
BCE Company Profile
BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.
Want to see what other hedge funds are holding BCE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BCE Inc. (NYSE:BCE) (TSE:BCE).
Receive News & Ratings for BCE Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BCE Inc. and related companies with MarketBeat.com's FREE daily email newsletter.