Virtu Financial LLC Buys 20,286 Shares of BCE Inc. (NYSE:BCE)

Virtu Financial LLC boosted its stake in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 119.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,246 shares of the utilities provider’s stock after buying an additional 20,286 shares during the quarter. Virtu Financial LLC’s holdings in BCE were worth $863,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Swiss National Bank raised its stake in shares of BCE by 0.9% during the third quarter. Swiss National Bank now owns 220,709 shares of the utilities provider’s stock valued at $7,686,000 after acquiring an additional 1,900 shares in the last quarter. Prospera Financial Services Inc raised its position in BCE by 6.8% during the 3rd quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 478 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of BCE by 2.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 113,569 shares of the utilities provider’s stock worth $3,952,000 after buying an additional 2,437 shares during the period. Advisors Asset Management Inc. grew 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 worth $924,000 after buying an additional 2,572 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of BCE during the third quarter valued at $262,000. 41.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BCE shares. Morgan Stanley started coverage on shares of BCE in a report on Monday, December 16th. They set an “underweight” rating on the stock. National Bankshares reiterated a “sector perform” rating on shares of BCE in a research note on Tuesday, March 11th. JPMorgan Chase & Co. downgraded shares of BCE from a “neutral” rating to an “underweight” rating in a research note on Friday, February 7th. Barclays reaffirmed an “underweight” rating on shares of BCE in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $39.00 price objective on shares of BCE in a research note on Tuesday, February 25th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, BCE has a consensus rating of “Hold” and an average target price of $40.00.

BCE Trading Down 0.8 %

Shares of NYSE:BCE opened at $22.53 on Tuesday. 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 $20.76 billion, a P/E ratio of 187.71, a P/E/G ratio of 4.13 and a beta of 0.57. The business’s 50-day moving average is $23.59 and its 200 day moving average is $27.31. BCE Inc. has a 1 year low of $21.87 and a 1 year high of $36.17.

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

BCE Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.6965 per share. This represents a $2.79 dividend on an annualized basis and a dividend yield of 12.37%. The ex-dividend date is Friday, March 14th. BCE’s dividend payout ratio (DPR) is presently 2,291.67%.

BCE 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.