Renaissance Technologies LLC Has $95.61 Million Stake in BCE, Inc. (BCE)

Renaissance Technologies LLC boosted its position in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 78.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,159,371 shares of the utilities provider’s stock after buying an additional 950,073 shares during the period. Renaissance Technologies LLC owned about 0.24% of BCE worth $95,610,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Parallel Advisors LLC bought a new position in shares of BCE during the fourth quarter worth approximately $104,000. SG Americas Securities LLC increased its position in shares of BCE by 0.7% in the first quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock worth $131,000 after buying an additional 20 shares during the last quarter. Cribstone Capital Management LLC raised its position in shares of BCE by 63.9% in the first quarter. Cribstone Capital Management LLC now owns 4,762 shares of the utilities provider’s stock worth $215,000 after buying an additional 1,857 shares during the period. Round Table Services LLC acquired a new position in shares of BCE during the first quarter worth about $215,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of BCE by 11.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,877 shares of the utilities provider’s stock worth $216,000 after buying an additional 518 shares during the period. Institutional investors and hedge funds own 44.21% of the company’s stock.

Institutional Ownership by Quarter for BCE (NYSE:BCE)

BCE, Inc. (NYSE:BCE) traded down 0.84% during mid-day trading on Tuesday, hitting $44.79. The stock had a trading volume of 1,383,443 shares. BCE, Inc. has a 52 week low of $41.83 and a 52 week high of $49.03. The stock’s 50-day moving average is $45.01 and its 200 day moving average is $44.38. The company has a market capitalization of $40.29 billion, a P/E ratio of 18.13 and a beta of 0.38.

BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Wednesday, April 26th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. BCE had a net margin of 13.36% and a return on equity of 22.03%. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. BCE’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts forecast that BCE, Inc. will post $2.54 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Thursday, June 15th will be paid a dividend of $0.5316 per share. This represents a $2.13 annualized dividend and a yield of 4.75%. The ex-dividend date is Tuesday, June 13th. BCE’s payout ratio is currently 85.89%.

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BCE has been the subject of several research analyst reports. Citigroup Inc. upgraded BCE from a “neutral” rating to a “buy” rating in a report on Thursday, April 6th. BidaskClub raised BCE from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Barclays PLC began coverage on BCE in a report on Tuesday, March 21st. They set an “overweight” rating and a $47.00 target price for the company. Canaccord Genuity set a $60.00 target price on BCE and gave the company a “hold” rating in a report on Tuesday, May 16th. Finally, Zacks Investment Research lowered BCE from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. BCE currently has a consensus rating of “Hold” and an average target price of $59.33.

About BCE

BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.

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