Jump Financial LLC Takes Position in BCE, Inc. $BCE

Key Points

• Jump Financial LLC acquired a new stake in BCE, Inc., purchasing 11,676 shares valued at approximately $268,000 in the 1st quarter, indicating growing institutional interest in the utilities provider.
• Analysts have mixed views on BCE's stock, with ratings ranging from "Strong Buy" to "Sell," and a consensus target price set at $38.67.
• BCE recently announced a quarterly dividend of $0.4375 per share, equating to an annual dividend yield of 7.1%, highlighting its commitment to returning value to shareholders.

Jump Financial LLC acquired a new stake in BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,676 shares of the utilities provider's stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BCE. Bernard Wealth Management Corp. purchased a new stake in BCE in the 4th quarter valued at about $26,000. SVB Wealth LLC purchased a new stake in BCE in the 1st quarter valued at about $35,000. Caitong International Asset Management Co. Ltd purchased a new stake in BCE in the 1st quarter valued at about $47,000. MassMutual Private Wealth & Trust FSB increased its stake in BCE by 67.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,310 shares of the utilities provider's stock valued at $76,000 after buying an additional 1,329 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in BCE in the 1st quarter valued at about $88,000. Hedge funds and other institutional investors own 41.46% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on BCE. Cibc World Mkts lowered shares of BCE from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Desjardins upgraded shares of BCE from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 5th. CIBC restated a "neutral" rating on shares of BCE in a research note on Friday, August 22nd. Royal Bank Of Canada restated a "sector perform" rating and set a $35.00 price target on shares of BCE in a research note on Wednesday, May 14th. Finally, National Bankshares restated an "outperform" rating on shares of BCE in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $38.67.

BCE Stock Performance

BCE stock traded up $0.23 during mid-day trading on Friday, reaching $24.70. The company's stock had a trading volume of 2,189,198 shares, compared to its average volume of 3,062,674. BCE, Inc. has a 12-month low of $20.28 and a 12-month high of $36.17. The company has a market capitalization of $23.03 billion, a P/E ratio of 85.16, a PEG ratio of 4.16 and a beta of 0.63. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.57 and a current ratio of 0.61. The firm's fifty day moving average price is $24.22 and its two-hundred day moving average price is $23.00.

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

BCE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Monday, September 15th. BCE's payout ratio is currently 434.48%.

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.