Atlanta Consulting Group Advisors LLC Makes New Investment in BCE Inc. (NYSE:BCE)

Atlanta Consulting Group Advisors LLC purchased a new stake in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 22,021 shares of the utilities provider’s stock, valued at approximately $766,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC grew its stake in shares of BCE by 3,355.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,852,025 shares of the utilities provider’s stock valued at $64,450,000 after buying an additional 1,798,427 shares in the last quarter. AGF Management Ltd. grew its position in BCE by 5,036.0% in the 2nd quarter. AGF Management Ltd. now owns 1,354,413 shares of the utilities provider’s stock valued at $43,842,000 after acquiring an additional 1,328,042 shares in the last quarter. CIBC Asset Management Inc increased its stake in BCE by 23.8% during the second quarter. CIBC Asset Management Inc now owns 5,520,090 shares of the utilities provider’s stock worth $178,677,000 after purchasing an additional 1,061,488 shares during the period. Toronto Dominion Bank lifted its position in shares of BCE by 12.0% during the second quarter. Toronto Dominion Bank now owns 8,450,810 shares of the utilities provider’s stock worth $273,553,000 after purchasing an additional 905,857 shares in the last quarter. Finally, Intact Investment Management Inc. boosted its stake in shares of BCE by 66.4% in the third quarter. Intact Investment Management Inc. now owns 1,360,980 shares of the utilities provider’s stock valued at $47,320,000 after purchasing an additional 543,320 shares during the period. 41.46% of the stock is owned by hedge funds and other institutional investors.

BCE Price Performance

BCE stock opened at $26.82 on Friday. The business has a 50 day moving average price of $32.77 and a 200 day moving average price of $33.38. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The stock has a market cap of $24.47 billion, a price-to-earnings ratio of 383.14, a PEG ratio of 4.16 and a beta of 0.59. BCE Inc. has a fifty-two week low of $26.51 and a fifty-two week high of $41.77.

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 given a dividend of $0.737 per share. This represents a $2.95 annualized dividend and a dividend yield of 10.99%. The ex-dividend date is Monday, December 16th. This is an increase from BCE’s previous quarterly dividend of $0.73. BCE’s payout ratio is currently 4,228.57%.

Analysts Set New Price Targets

Several brokerages recently weighed in on BCE. Cibc World Mkts raised shares of BCE from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Barclays reduced their price objective on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Edward Jones cut BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, BCE presently has a consensus rating of “Hold” and a consensus price target of $45.00.

About BCE

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.