Meag Munich Ergo Kapitalanlagegesellschaft MBH Has $8,542,000 Stake in BCE Inc. (BCE)
Meag Munich Ergo Kapitalanlagegesellschaft MBH continued to hold its position in shares of BCE Inc. (NYSE:BCE) during the second quarter, Holdings Channel reports. The firm owned 180,000 shares of the company’s stock at the end of the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in BCE were worth $8,542,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rehmann Capital Advisory Group increased its position in BCE by 0.5% in the second quarter. Rehmann Capital Advisory Group now owns 4,907 shares of the company’s stock valued at $232,000 after buying an additional 23 shares during the period. Bremer Trust National Association increased its position in BCE by 0.4% in the second quarter. Bremer Trust National Association now owns 9,191 shares of the company’s stock valued at $435,000 after buying an additional 41 shares during the period. Genesee Valley Trust Co. increased its position in BCE by 3.0% in the second quarter. Genesee Valley Trust Co. now owns 7,485 shares of the company’s stock valued at $354,000 after buying an additional 215 shares during the period. NN Investment Partners Holdings N.V. increased its position in BCE by 0.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 107,077 shares of the company’s stock valued at $5,066,000 after buying an additional 338 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services increased its position in BCE by 3.6% in the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 10,387 shares of the company’s stock valued at $491,000 after buying an additional 357 shares during the period. 44.51% of the stock is currently owned by institutional investors and hedge funds.
BCE Inc. (NYSE:BCE) traded up 0.74% during trading on Tuesday, reaching $46.17. The company’s stock had a trading volume of 606,944 shares. BCE Inc. has a one year low of $35.96 and a one year high of $49.03. The firm has a market capitalization of $40.15 billion, a P/E ratio of 19.29 and a beta of 0.40. The stock has a 50-day moving average of $46.21 and a 200 day moving average of $46.76.
BCE (NYSE:BCE) last issued its earnings results on Thursday, August 4th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. BCE had a return on equity of 22.89% and a net margin of 13.02%. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. The company’s revenue was up .3% compared to the same quarter last year. On average, equities research analysts predict that BCE Inc. will post $2.66 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, October 15th. Stockholders of record on Thursday, September 15th were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.51%. BCE’s payout ratio is 88.14%.
Several research analysts have recently commented on the company. Desjardins reaffirmed a “hold” rating and issued a $64.00 price objective on shares of BCE in a research note on Wednesday, August 10th. Zacks Investment Research raised BCE from a “sell” rating to a “hold” rating in a research note on Thursday, August 25th. Citigroup Inc. raised their price objective on BCE from $62.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 19th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $66.00 target price (up previously from $62.00) on shares of BCE in a research note on Sunday, August 7th. Finally, BMO Capital Markets reissued a “buy” rating and set a $65.00 target price on shares of BCE in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $57.30.
BCE Company Profile
BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.
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