BCE Inc. (BCE) Holdings Reduced by Aviva PLC
Aviva PLC reduced its stake in BCE Inc. (NYSE:BCE) (TSE:BCE) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 155,159 shares of the utilities provider’s stock after selling 6,080 shares during the period. Aviva PLC’s holdings in BCE were worth $6,255,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in BCE. Charles Schwab Investment Advisory Inc. purchased a new position in BCE in the second quarter valued at approximately $273,156,000. Toronto Dominion Bank increased its stake in BCE by 35.6% in the second quarter. Toronto Dominion Bank now owns 9,753,645 shares of the utilities provider’s stock valued at $400,193,000 after purchasing an additional 2,559,555 shares during the last quarter. CIBC Asset Management Inc increased its stake in BCE by 20.0% in the third quarter. CIBC Asset Management Inc now owns 5,529,319 shares of the utilities provider’s stock valued at $223,841,000 after purchasing an additional 922,044 shares during the last quarter. Renaissance Technologies LLC increased its stake in BCE by 22.6% in the second quarter. Renaissance Technologies LLC now owns 4,392,771 shares of the utilities provider’s stock valued at $177,867,000 after purchasing an additional 811,000 shares during the last quarter. Finally, Unigestion Holding SA increased its stake in BCE by 67.5% in the third quarter. Unigestion Holding SA now owns 1,716,386 shares of the utilities provider’s stock valued at $69,543,000 after purchasing an additional 691,804 shares during the last quarter. Institutional investors own 42.52% of the company’s stock.
Several equities analysts have commented on the stock. Barclays dropped their price target on shares of BCE from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, November 2nd. Royal Bank of Canada reiterated a “hold” rating on shares of BCE in a research note on Friday, November 2nd. Zacks Investment Research lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. ValuEngine upgraded shares of BCE from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, TD Securities reiterated a “hold” rating on shares of BCE in a research note on Wednesday, October 24th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $45.50.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The business had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.85 billion. BCE had a return on equity of 18.73% and a net margin of 12.13%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 earnings per share. On average, sell-side analysts predict that BCE Inc. will post 2.65 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be issued a $0.574 dividend. This represents a $2.30 annualized dividend and a dividend yield of 5.34%. The ex-dividend date of this dividend is Thursday, December 13th. BCE’s payout ratio is currently 88.55%.
TRADEMARK VIOLATION WARNING: “BCE Inc. (BCE) Holdings Reduced by Aviva PLC” was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright laws. The legal version of this article can be read at https://www.watchlistnews.com/bce-inc-bce-holdings-reduced-by-aviva-plc/2666485.html.
BCE Company Profile
BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.
Featured Story: Stop Order
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BCE and related companies with MarketBeat.com's FREE daily email newsletter.