APG Asset Management N.V. trimmed its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 25.8% in the second quarter, Holdings Channel.com reports. The firm owned 2,183,982 shares of the utilities provider’s stock after selling 759,345 shares during the quarter. APG Asset Management N.V.’s holdings in BCE were worth $90,914,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of BCE during the 2nd quarter worth approximately $25,000. O Shaughnessy Asset Management LLC grew its stake in shares of BCE by 1,142.9% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 609 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 560 shares in the last quarter. RMR Wealth Builders bought a new position in shares of BCE during the 1st quarter worth approximately $31,000. Capital Analysts LLC grew its stake in shares of BCE by 1,035.1% during the 2nd quarter. Capital Analysts LLC now owns 647 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 590 shares in the last quarter. Finally, MV Capital Management Inc. bought a new position in shares of BCE during the 2nd quarter worth approximately $35,000. 43.11% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the stock. Scotiabank raised their price target on shares of BCE from C$63.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Friday, August 6th. Royal Bank of Canada raised their price target on shares of BCE from $61.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Friday, August 6th. BMO Capital Markets increased their price objective on BCE from C$61.50 to C$63.50 and gave the company an “outperform” rating in a report on Friday, August 6th. TD Securities increased their price objective on BCE from C$67.00 to C$70.00 and gave the company a “buy” rating in a report on Monday, August 23rd. Finally, Canaccord Genuity raised BCE from a “hold” rating to a “buy” rating and increased their price objective for the company from $62.00 to $66.00 in a report on Thursday, August 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, BCE has a consensus rating of “Hold” and a consensus target price of $60.45.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, August 5th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. BCE had a return on equity of 16.79% and a net margin of 12.88%. The business had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.68 billion. As a group, equities analysts anticipate that BCE Inc. will post 2.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Wednesday, September 15th will be issued a dividend of $0.7011 per share. This represents a $2.80 annualized dividend and a yield of 5.50%. The ex-dividend date is Tuesday, September 14th. BCE’s dividend payout ratio is 123.11%.
BCE Company Profile
BCE, Inc is a telecommunications and media company, which engages in the provision of communication services to residential, business, and wholesale customers. It operates through the following segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment covers integrated digital wireless voice and data communications products and services to residential and business customers.
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