Synovus Financial Corp Acquires 662 Shares of BCE Inc. (NYSE:BCE)

Synovus Financial Corp increased its holdings in BCE Inc. (NYSE:BCE) (TSE:BCE) by 22.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,647 shares of the utilities provider’s stock after purchasing an additional 662 shares during the period. Synovus Financial Corp’s holdings in BCE were worth $176,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BCE. Meeder Asset Management Inc. bought a new stake in BCE in the 2nd quarter worth about $25,000. Flagship Harbor Advisors LLC increased its holdings in BCE by 57.7% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 653 shares of the utilities provider’s stock worth $31,000 after buying an additional 239 shares in the last quarter. Carroll Financial Associates Inc. increased its holdings in BCE by 155.3% in the 3rd quarter. Carroll Financial Associates Inc. now owns 697 shares of the utilities provider’s stock worth $33,000 after buying an additional 424 shares in the last quarter. Lindbrook Capital LLC increased its holdings in BCE by 72.9% in the 2nd quarter. Lindbrook Capital LLC now owns 854 shares of the utilities provider’s stock worth $38,000 after buying an additional 360 shares in the last quarter. Finally, Griffin Asset Management Inc. bought a new stake in BCE in the 2nd quarter worth about $51,000. Institutional investors own 43.87% of the company’s stock.

NYSE:BCE traded up $0.45 on Monday, hitting $48.25. The stock had a trading volume of 938,735 shares, compared to its average volume of 850,311. The stock has a market cap of $43.22 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 4.53 and a beta of 0.38. The company has a quick ratio of 0.56, a current ratio of 0.60 and a debt-to-equity ratio of 1.30. The business’s 50-day simple moving average is $48.17 and its two-hundred day simple moving average is $46.48. BCE Inc. has a 52-week low of $38.85 and a 52-week high of $49.58.

BCE (NYSE:BCE) (TSE:BCE) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.21. The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.99 billion. BCE had a return on equity of 18.75% and a net margin of 12.61%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.96 earnings per share. As a group, equities research analysts anticipate that BCE Inc. will post 2.68 EPS for the current year.

BCE has been the topic of several research reports. BMO Capital Markets reissued a “buy” rating and issued a $65.00 target price on shares of BCE in a research report on Monday, September 9th. Desjardins cut BCE to a “hold” rating in a research report on Friday, August 2nd. Scotiabank reissued a “buy” rating on shares of BCE in a research report on Friday, August 16th. National Bank Financial raised BCE from a “sector perform” rating to an “outperform” rating in a research report on Friday, September 20th. Finally, CIBC raised their target price on BCE from $60.00 to $62.00 in a research report on Friday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. BCE currently has a consensus rating of “Buy” and an average target price of $60.00.

BCE Profile

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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