BCE Inc. (NYSE:BCE) Stake Lessened by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its stake in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 0.1% during the third quarter, HoldingsChannel reports. The fund owned 5,860,184 shares of the utilities provider’s stock after selling 8,529 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in BCE were worth $203,937,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new position in BCE in the third quarter worth about $262,000. Ontario Teachers Pension Plan Board increased its holdings in shares of BCE by 60.1% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 67,224 shares of the utilities provider’s stock valued at $2,337,000 after acquiring an additional 25,228 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of BCE by 10.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 26,545 shares of the utilities provider’s stock valued at $924,000 after acquiring an additional 2,572 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in BCE by 48.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,563,534 shares of the utilities provider’s stock worth $123,877,000 after purchasing an additional 1,166,800 shares during the last quarter. Finally, Prospera Private Wealth LLC boosted its holdings in BCE by 7.3% in the third quarter. Prospera Private Wealth LLC now owns 26,278 shares of the utilities provider’s stock worth $914,000 after purchasing an additional 1,794 shares during the period. 41.46% of the stock is owned by institutional investors and hedge funds.

BCE Price Performance

NYSE BCE opened at $26.77 on Friday. The firm has a market capitalization of $24.42 billion, a PE ratio of 382.43, a P/E/G ratio of 4.15 and a beta of 0.59. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60. BCE Inc. has a 12 month low of $26.45 and a 12 month high of $41.77. The company’s 50 day simple moving average is $31.93 and its 200 day simple moving average is $33.16.

BCE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $0.737 dividend. The ex-dividend date is Monday, December 16th. This is a boost from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a yield of 11.01%. BCE’s payout ratio is 4,228.57%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Canaccord Genuity Group cut BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. BMO Capital Markets upped their price objective on BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research note on Thursday, September 19th. Edward Jones cut BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, National Bank Financial cut shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.