Huntington National Bank reduced its position in BCE Inc. (NYSE:BCE) by 65.1% during the second quarter, Holdings Channel reports. The fund owned 34,138 shares of the company’s stock after selling 63,557 shares during the period. Huntington National Bank’s holdings in BCE were worth $1,615,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Cribstone Capital Management LLC purchased a new position in BCE during the second quarter worth $170,000. Howland Capital Management LLC purchased a new position in BCE during the second quarter worth $204,000. Park Avenue Securities LLC purchased a new position in BCE during the second quarter worth $204,000. Catawba Capital Management VA purchased a new position in BCE during the second quarter worth $223,000. Finally, Rehmann Capital Advisory Group raised its position in BCE by 0.5% in the second quarter. Rehmann Capital Advisory Group now owns 4,907 shares of the company’s stock worth $232,000 after buying an additional 23 shares during the last quarter. Institutional investors and hedge funds own 44.50% of the company’s stock.
BCE Inc. (NYSE:BCE) traded up 0.33% during midday trading on Friday, reaching $45.88. 591,809 shares of the company were exchanged. The firm’s 50 day moving average price is $46.25 and its 200-day moving average price is $46.74. The stock has a market capitalization of $39.89 billion, a P/E ratio of 19.17 and a beta of 0.40. BCE Inc. has a 52 week low of $35.96 and a 52 week high of $49.03.
BCE (NYSE:BCE) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. BCE had a net margin of 13.02% and a return on equity of 22.89%. The company earned $5.34 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period last year, the firm posted $0.87 EPS. BCE’s revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts forecast that BCE Inc. will post $2.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 15th. Shareholders of record on Thursday, September 15th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Tuesday, September 13th. BCE’s dividend payout ratio is presently 88.14%.
A number of research firms have weighed in on BCE. Zacks Investment Research upgraded shares of BCE from a “sell” rating to a “hold” rating in a research report on Wednesday, September 21st. BMO Capital Markets reissued a “buy” rating and issued a $65.00 target price on shares of BCE in a report on Friday, August 5th. Desjardins reissued a “hold” rating and issued a $64.00 target price on shares of BCE in a report on Wednesday, August 10th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $66.00 target price (up previously from $62.00) on shares of BCE in a report on Sunday, August 7th. Finally, Citigroup Inc. boosted their target price on shares of BCE from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. BCE presently has an average rating of “Hold” and an average target price of $57.30.
BCE Company Profile
BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.