BCE Inc. (NYSE:BCE) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its position in BCE Inc. (NYSE:BCE) (TSE:BCE) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 312,532 shares of the utilities provider’s stock after selling 9,225 shares during the period. Jennison Associates LLC’s holdings in BCE were worth $7,241,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in BCE by 1,147.3% in the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 1,285 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after buying an additional 675 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of BCE by 67.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock worth $46,000 after buying an additional 799 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of BCE in the third quarter worth $51,000. Finally, Bruce G. Allen Investments LLC raised its holdings in BCE by 321.0% in the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 1,268 shares in the last quarter. 41.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BCE has been the subject of several research analyst reports. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Barclays reissued an “underweight” rating on shares of BCE in a report on Tuesday, January 21st. Morgan Stanley assumed coverage on BCE in a report on Monday, December 16th. They set an “underweight” rating on the stock. Bank of America downgraded BCE from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 14th. Finally, Edward Jones cut BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.00.

BCE Trading Up 2.5 %

NYSE:BCE opened at $25.00 on Thursday. The firm has a market capitalization of $22.81 billion, a P/E ratio of 357.14, a P/E/G ratio of 3.94 and a beta of 0.57. The business has a 50 day simple moving average of $24.22 and a 200 day simple moving average of $29.89. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60. BCE Inc. has a 12-month low of $21.87 and a 12-month high of $39.73.

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.