Sei Investments Co. Acquires 13,864 Shares of BCE, Inc. (BCE)
Sei Investments Co. raised its position in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 20.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,617 shares of the utilities provider’s stock after buying an additional 13,864 shares during the period. Sei Investments Co.’s holdings in BCE were worth $3,720,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Camarda Financial Advisors LLC boosted its stake in shares of BCE by 0.5% in the second quarter. Camarda Financial Advisors LLC now owns 2,964 shares of the utilities provider’s stock worth $133,000 after buying an additional 16 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in BCE by 0.3% in the first quarter. Parkside Financial Bank & Trust now owns 7,890 shares of the utilities provider’s stock valued at $349,000 after buying an additional 20 shares in the last quarter. SG Americas Securities LLC boosted its stake in BCE by 0.7% in the first quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock valued at $131,000 after buying an additional 20 shares in the last quarter. Park Avenue Securities LLC boosted its stake in BCE by 0.5% in the second quarter. Park Avenue Securities LLC now owns 7,206 shares of the utilities provider’s stock valued at $326,000 after buying an additional 34 shares in the last quarter. Finally, FTB Advisors Inc. boosted its stake in BCE by 1.2% in the first quarter. FTB Advisors Inc. now owns 7,579 shares of the utilities provider’s stock valued at $339,000 after buying an additional 87 shares in the last quarter. 44.35% of the stock is owned by institutional investors.
BCE, Inc. (BCE) opened at 46.77 on Monday. The stock has a 50 day moving average price of $46.24 and a 200 day moving average price of $45.02. BCE, Inc. has a 1-year low of $41.83 and a 1-year high of $48.36. The firm has a market cap of $42.11 billion, a P/E ratio of 18.33 and a beta of 0.36.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.65 billion. BCE had a net margin of 12.85% and a return on equity of 21.08%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 earnings per share. On average, analysts anticipate 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 Sunday, October 15th. Investors of record on Friday, September 15th will be issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.92%. This is a boost from BCE’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 14th. BCE’s dividend payout ratio (DPR) is currently 87.30%.
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BCE has been the subject of several recent analyst reports. BidaskClub raised shares of BCE from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Thursday, June 29th. Canaccord Genuity set a $60.00 target price on BCE and gave the stock a “hold” rating in a research note on Tuesday, May 16th. Argus initiated coverage on BCE in a research note on Tuesday, July 18th. They set a “hold” rating for the company. Finally, Barclays PLC boosted their target price on BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.80.
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.
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