Integrated Wealth Concepts LLC Lowers Stake in BCE Inc. (NYSE:BCE)

Integrated Wealth Concepts LLC reduced its stake in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 60.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,692 shares of the utilities provider’s stock after selling 22,216 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in BCE were worth $511,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. AE Wealth Management LLC boosted its stake in shares of BCE by 2.6% during the second quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock valued at $466,000 after purchasing an additional 367 shares during the period. Caldwell Sutter Capital Inc. boosted its stake in shares of BCE by 3.9% during the third quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock valued at $413,000 after purchasing an additional 445 shares during the period. First Affirmative Financial Network boosted its stake in shares of BCE by 6.1% during the third quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock valued at $285,000 after purchasing an additional 472 shares during the period. Prospera Financial Services Inc boosted its stake in shares of BCE by 6.8% during the third 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 during the period. Finally, FMR LLC boosted its stake in shares of BCE by 6.8% during the third quarter. FMR LLC now owns 9,307 shares of the utilities provider’s stock valued at $324,000 after purchasing an additional 596 shares during the period. 41.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, September 19th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. National Bank Financial lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. 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 equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $45.00.

BCE Stock Performance

Shares of BCE stock opened at $26.47 on Wednesday. The company has a market capitalization of $24.15 billion, a PE ratio of 378.00, a P/E/G ratio of 4.17 and a beta of 0.54. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. The company has a 50-day simple moving average of $30.17 and a two-hundred day simple moving average of $32.60. BCE Inc. has a one year low of $26.13 and a one year high of $41.77.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $0.737 dividend. The ex-dividend date is Monday, December 16th. This is an increase from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a yield of 11.14%. BCE’s payout ratio is currently 4,214.29%.

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.