The Manufacturers Life Insurance Company Has $66.72 Million Holdings in BCE, Inc. $BCE

Key Points

• The Manufacturers Life Insurance Company reduced its BCE stake by 38.4% in the second quarter, selling 1.93 million shares and retaining 3.10 million shares valued at approximately $66.7 million. Institutional investors and hedge funds collectively own 41.46% of BCE.
• BCE reported quarterly earnings of $0.47 per share, slightly exceeding analyst expectations, while revenue matched estimates at $4.35 billion. Analysts project $1.93 in current-year earnings per share.
• BCE declared a quarterly dividend of $0.4375 per share, equivalent to $1.75 annually and a 7.5% yield. The stock has a “Moderate Buy” consensus rating and an average analyst price target of $29.25.

The Manufacturers Life Insurance Company cut its stake in BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 38.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,103,638 shares of the utilities provider's stock after selling 1,934,724 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.33% of BCE worth $66,722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BCE. Renaissance Technologies LLC lifted its stake in shares of BCE by 501.6% in the first quarter. Renaissance Technologies LLC now owns 75,198 shares of the utilities provider's stock valued at $1,898,000 after buying an additional 62,698 shares during the period. Massachusetts Financial Services Co. MA increased its stake in BCE by 10.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,886,101 shares of the utilities provider's stock valued at $40,570,000 after acquiring an additional 172,955 shares during the period. Bank of America Corp DE increased its stake in BCE by 6.2% during the first quarter. Bank of America Corp DE now owns 4,837,452 shares of the utilities provider's stock valued at $122,097,000 after acquiring an additional 282,287 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in BCE by 535.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 532,508 shares of the utilities provider's stock valued at $13,435,000 after acquiring an additional 448,757 shares in the last quarter. Finally, Bank of Nova Scotia raised its holdings in BCE by 0.9% in the 1st quarter. Bank of Nova Scotia now owns 17,296,776 shares of the utilities provider's stock valued at $436,320,000 after acquiring an additional 160,310 shares in the last quarter. 41.46% of the stock is currently owned by institutional investors and hedge funds.

BCE Stock Up 0.5%

NYSE BCE opened at $23.38 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 1.79. The stock's 50 day moving average is $22.58 and its two-hundred day moving average is $23.80. The company has a market capitalization of $21.80 billion, a price-to-earnings ratio of 4.78, a PEG ratio of 6.03 and a beta of 0.52. BCE, Inc. has a 1-year low of $20.87 and a 1-year high of $26.52.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.35 billion. BCE had a return on equity of 12.90% and a net margin of 25.49%.BCE has set its FY 2026 guidance at 1.798-1.919 EPS. Equities analysts forecast that BCE, Inc. will post 1.93 earnings per share for the current fiscal year.

BCE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 7.5%. The ex-dividend date is Tuesday, September 15th. BCE's dividend payout ratio is currently 25.77%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BCE shares. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of BCE in a report on Friday, July 10th. Barclays cut their target price on BCE from $26.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, July 16th. Bank of America raised BCE from an "underperform" rating to a "buy" rating and raised their target price for the stock from $24.50 to $27.00 in a research report on Tuesday, August 11th. Weiss Ratings downgraded shares of BCE from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, August 20th. Finally, TD Securities raised shares of BCE from a "hold" rating to a "buy" rating in a report on Wednesday, July 1st. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $29.25.

About BCE

BCE Inc is a Canadian communications and media company headquartered in Montreal, Quebec. Through its Bell operations, the company provides wireless and wireline telecommunications services, including mobile voice and data plans, high-speed internet, telephone services, and business communications solutions.

BCE also offers television services, including conventional, satellite, and internet-based television, as well as digital content and streaming products. Its media operations include television networks, specialty channels, digital media properties, and sports and news programming.

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