Quantbot Technologies LP Acquires Shares of 283,206 BCE Inc. (NYSE:BCE)

Quantbot Technologies LP acquired a new position in BCE Inc. (NYSE:BCE) (TSE:BCE) in the 4th quarter, Holdings Channel reports. The firm acquired 283,206 shares of the utilities provider’s stock, valued at approximately $6,565,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blueshift Asset Management LLC lifted its stake in shares of BCE by 153.0% in the 4th quarter. Blueshift Asset Management LLC now owns 15,168 shares of the utilities provider’s stock valued at $352,000 after purchasing an additional 9,173 shares during the period. Flagship Wealth Advisors LLC purchased a new position in BCE during the fourth quarter valued at $59,000. Signaturefd LLC lifted its position in BCE by 85.5% during the fourth quarter. Signaturefd LLC now owns 36,444 shares of the utilities provider’s stock valued at $845,000 after buying an additional 16,794 shares during the period. Intact Investment Management Inc. boosted its holdings in shares of BCE by 42.9% during the 4th quarter. Intact Investment Management Inc. now owns 1,945,270 shares of the utilities provider’s stock valued at $45,085,000 after buying an additional 584,290 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of BCE by 27.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 9,288 shares of the utilities provider’s stock worth $215,000 after buying an additional 2,013 shares during the period. 41.46% of the stock is owned by hedge funds and other institutional investors.

BCE Stock Down 1.3 %

BCE stock opened at $22.72 on Friday. BCE Inc. has a 12 month low of $21.87 and a 12 month high of $36.17. The stock has a fifty day simple moving average of $23.61 and a two-hundred day simple moving average of $27.52. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. The firm has a market cap of $20.94 billion, a price-to-earnings ratio of 189.29, a PEG ratio of 4.13 and a beta of 0.57.

BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. BCE had a return on equity of 17.89% and a net margin of 0.99%. Equities analysts predict that BCE Inc. will post 1.94 EPS for the current fiscal year.

BCE Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $0.6965 dividend. This represents a $2.79 annualized dividend and a dividend yield of 12.26%. The ex-dividend date is Friday, March 14th. BCE’s payout ratio is currently 2,291.67%.

Analyst Upgrades and Downgrades

BCE has been the subject of a number of recent research reports. Bank of America cut shares of BCE from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 14th. National Bankshares reiterated a “sector perform” rating on shares of BCE in a report on Tuesday, March 11th. Barclays restated an “underweight” rating on shares of BCE in a research note on Tuesday, January 21st. JPMorgan Chase & Co. cut BCE from a “neutral” rating to an “underweight” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $39.00 target price on shares of BCE in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $40.00.

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.