Russell Investments Group Ltd. Trims Position in BCE, Inc. $BCE

Key Points

• Russell Investments Group Ltd. reduced its holdings in BCE, Inc. by 25.2%, owning 72,100 shares worth approximately $1.65 million after selling 24,226 shares in the first quarter.
• BCE's earnings report showed an EPS of $0.46, missing analysts' estimates of $0.52, with revenue of $4.47 billion, falling short of expected $5.91 billion.
• The company has cut its dividend, with a current payout ratio of 437.93%, while analysts generally rate BCE stock as a "Hold" with an average target price of $38.67.

Russell Investments Group Ltd. lessened its holdings in BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 25.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,100 shares of the utilities provider's stock after selling 24,226 shares during the quarter. Russell Investments Group Ltd.'s holdings in BCE were worth $1,649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bernard Wealth Management Corp. bought a new position in shares of BCE in the fourth quarter worth approximately $26,000. WealthCollab LLC bought a new position in shares of BCE in the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of BCE by 67.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 3,310 shares of the utilities provider's stock worth $76,000 after buying an additional 1,329 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of BCE in the first quarter worth approximately $88,000. Finally, ORG Partners LLC lifted its stake in shares of BCE by 77.2% in the first quarter. ORG Partners LLC now owns 3,891 shares of the utilities provider's stock worth $89,000 after buying an additional 1,695 shares in the last quarter. Hedge funds and other institutional investors own 41.46% of the company's stock.

BCE Stock Performance

BCE stock traded up $0.14 during midday trading on Friday, reaching $24.96. 2,434,770 shares of the company traded hands, compared to its average volume of 3,450,236. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of 86.09, a price-to-earnings-growth ratio of 4.19 and a beta of 0.62. The business has a 50 day moving average of $23.95 and a two-hundred day moving average of $22.97. BCE, Inc. has a 12 month low of $20.28 and a 12 month high of $36.17. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.61 and a quick ratio of 0.57.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.06). BCE had a return on equity of 18.89% and a net margin of 1.96%.The business had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. The firm's revenue was up 1.3% on a year-over-year basis. BCE has set its FY 2025 guidance at 1.910-1.980 EPS. As a group, research analysts predict that BCE, Inc. will post 1.94 earnings per share for the current year.

BCE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $0.4375 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.75 annualized dividend and a yield of 7.0%. BCE's dividend payout ratio (DPR) is presently 437.93%.

Analysts Set New Price Targets

BCE has been the topic of several analyst reports. CIBC reiterated a "neutral" rating on shares of BCE in a research note on Friday, August 22nd. National Bankshares reiterated an "outperform" rating on shares of BCE in a research note on Friday, August 15th. TD Securities reiterated a "hold" rating on shares of BCE in a research note on Friday, August 8th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $35.00 target price on shares of BCE in a research note on Wednesday, May 14th. Finally, Scotiabank upgraded shares of BCE from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $38.67.

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.