Deutsche Bank AG Sells 16,793 Shares of BCE Inc. (NYSE:BCE)

Deutsche Bank AG trimmed its stake in BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 5.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,275 shares of the utilities provider's stock after selling 16,793 shares during the period. Deutsche Bank AG's holdings in BCE were worth $6,520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allworth Financial LP grew its holdings in BCE by 217.6% during the fourth quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 790 shares during the period. WealthCollab LLC bought a new stake in BCE during the 4th quarter worth approximately $27,000. Blue Trust Inc. raised its stake in BCE by 1,147.3% during the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider's stock worth $32,000 after acquiring an additional 1,285 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of BCE by 67.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider's stock worth $46,000 after purchasing an additional 799 shares during the period. Finally, Vision Financial Markets LLC bought a new position in shares of BCE in the fourth quarter worth approximately $49,000. 41.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BCE has been the topic of several recent analyst reports. Royal Bank of Canada restated a "sector perform" rating and set a $35.00 price objective on shares of BCE in a research report on Wednesday, May 14th. Barclays reaffirmed an "underweight" rating on shares of BCE in a research note on Tuesday, January 21st. JPMorgan Chase & Co. downgraded BCE from a "neutral" rating to an "underweight" rating in a research note on Friday, February 7th. National Bankshares restated a "sector perform" rating on shares of BCE in a research note on Tuesday, March 11th. Finally, National Bank Financial raised shares of BCE from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, BCE presently has an average rating of "Hold" and a consensus price target of $38.67.

BCE Price Performance

NYSE:BCE traded down $0.19 during trading hours on Wednesday, reaching $21.47. The stock had a trading volume of 2,656,054 shares, compared to its average volume of 2,939,953. The stock has a market capitalization of $20.02 billion, a PE ratio of 178.89, a PEG ratio of 4.13 and a beta of 0.63. BCE Inc. has a 52 week low of $20.28 and a 52 week high of $36.17. The company has a 50 day moving average price of $22.08 and a two-hundred day moving average price of $23.78. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last announced its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.04. BCE had a net margin of 0.99% and a return on equity of 17.89%. The company had revenue of $4.12 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. BCE's quarterly revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts anticipate that BCE Inc. will post 1.94 earnings per share for the current fiscal year.

BCE Company 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.