BCE, Inc. (BCE) Position Trimmed by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 9.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,281 shares of the utilities provider’s stock after selling 38,815 shares during the quarter. Envestnet Asset Management Inc.’s holdings in BCE were worth $16,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC raised its stake in BCE by 13.5% in the second quarter. FMR LLC now owns 13,936,315 shares of the utilities provider’s stock valued at $627,607,000 after purchasing an additional 1,662,207 shares in the last quarter. Capital Research Global Investors grew its position in BCE by 2.6% during the second quarter. Capital Research Global Investors now owns 8,878,000 shares of the utilities provider’s stock valued at $399,811,000 after acquiring an additional 224,000 shares during the last quarter. Great West Life Assurance Co. Can grew its position in BCE by 5.2% during the third quarter. Great West Life Assurance Co. Can now owns 8,169,005 shares of the utilities provider’s stock valued at $381,970,000 after acquiring an additional 405,067 shares during the last quarter. Franklin Resources Inc. grew its position in BCE by 0.3% during the second quarter. Franklin Resources Inc. now owns 7,185,736 shares of the utilities provider’s stock valued at $323,763,000 after acquiring an additional 22,247 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in BCE by 2.9% during the second quarter. Vanguard Group Inc. now owns 7,036,514 shares of the utilities provider’s stock valued at $319,458,000 after acquiring an additional 197,370 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

BCE, Inc. (NYSE:BCE) opened at $48.49 on Wednesday. BCE, Inc. has a 52-week low of $42.44 and a 52-week high of $48.87. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.47 and a current ratio of 0.51. The company has a market cap of $43,599.14, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 5.25 and a beta of 0.35.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 15th will be issued a $0.558 dividend. This represents a $2.23 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Thursday, December 14th. BCE’s dividend payout ratio is 93.50%.

A number of research analysts have commented on BCE shares. BidaskClub upgraded shares of BCE from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Morgan Stanley reduced their price target on shares of BCE from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 27th. Zacks Investment Research upgraded shares of BCE from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, October 4th. Canaccord Genuity reiterated a “hold” rating and set a $60.00 price target on shares of BCE in a research report on Thursday, November 2nd. Finally, National Bank Financial upgraded shares of BCE from a “sector perform” rating to an “outperform” rating in a research report on Thursday, November 2nd. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $56.50.

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About BCE

BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.

Institutional Ownership by Quarter for BCE (NYSE:BCE)

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