Cumberland Partners Ltd Lowers Stock Position in BCE Inc. (NYSE:BCE)

Cumberland Partners Ltd lowered its position in BCE Inc. (NYSE:BCE) (TSE:BCE) by 18.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,886 shares of the utilities provider’s stock after selling 3,418 shares during the quarter. Cumberland Partners Ltd’s holdings in BCE were worth $518,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ESL Trust Services LLC bought a new stake in BCE in the 1st quarter valued at $31,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of BCE by 3,480.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 1,044 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in BCE by 121.2% during the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after buying an additional 675 shares during the last quarter. Brown Lisle Cummings Inc. boosted its position in shares of BCE by 60.0% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock valued at $52,000 after acquiring an additional 600 shares during the last quarter. Finally, Bruce G. Allen Investments LLC grew its stake in shares of BCE by 321.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock worth $58,000 after buying an additional 1,268 shares in the last quarter. Institutional investors own 41.46% of the company’s stock.

BCE Stock Down 0.6 %

BCE opened at $27.69 on Wednesday. The stock has a market capitalization of $25.26 billion, a price-to-earnings ratio of 395.57, a PEG ratio of 4.26 and a beta of 0.59. BCE Inc. has a fifty-two week low of $27.11 and a fifty-two week high of $41.77. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.62 and a current ratio of 0.65. The company has a fifty day moving average of $33.46 and a two-hundred day moving average of $33.54.

BCE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $0.737 dividend. This is an increase from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a yield of 10.65%. BCE’s dividend payout ratio is presently 4,228.57%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Cibc World Mkts upgraded BCE from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Canaccord Genuity Group lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, National Bank Financial lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.00.

BCE Company Profile

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.