Verition Fund Management LLC Grows Stock Holdings in BCE Inc. (NYSE:BCE)

Verition Fund Management LLC grew its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 372.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 71,915 shares of the utilities provider’s stock after purchasing an additional 56,706 shares during the period. Verition Fund Management LLC’s holdings in BCE were worth $2,503,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV increased its position in shares of BCE by 3,480.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 1,044 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of 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 acquiring an additional 675 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of BCE during the third quarter valued at approximately $51,000. Brown Lisle Cummings Inc. increased its position in shares of BCE by 60.0% during the second 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 in the last quarter. Finally, Bruce G. Allen Investments LLC increased its position in shares of BCE by 321.0% during the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 1,268 shares in the last quarter. 41.46% of the stock is currently owned by hedge funds and other institutional investors.

BCE Trading Down 1.7 %

NYSE:BCE opened at $26.84 on Thursday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60. The firm has a market capitalization of $24.49 billion, a price-to-earnings ratio of 383.43, a price-to-earnings-growth ratio of 4.21 and a beta of 0.54. BCE Inc. has a one year low of $26.45 and a one year high of $41.77. The business has a fifty day moving average price of $30.65 and a 200-day moving average price of $32.76.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.737 dividend. This represents a $2.95 annualized dividend and a dividend yield of 10.98%. This is a positive change from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio is 4,228.57%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. BMO Capital Markets lifted their target price on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research report on Thursday, September 19th. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.