Acadian Asset Management Lowers stake in BCE (USA) (BCE)

BCE (USA) (BCE) : Acadian Asset Management reduced its stake in BCE (USA) by 5.55% during the most recent quarter end. The investment management company now holds a total of 4,262,150 shares of BCE (USA) which is valued at $203,688,149 after selling 250,633 shares in BCE (USA) , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.BCE (USA) makes up approximately 1.01% of Acadian Asset Management’s portfolio.

Other Hedge Funds, Including , First Quadrant L Pca reduced its stake in BCE by selling 53 shares or 31.55% in the most recent quarter. The Hedge Fund company now holds 115 shares of BCE which is valued at $5,496.Regentatlantic Capital reduced its stake in BCE by selling 165 shares or 3.32% in the most recent quarter. The Hedge Fund company now holds 4,807 shares of BCE which is valued at $229,727. BCE (USA) makes up approx 0.02% of Regentatlantic Capital’s portfolio. Barrett Asset Management sold out all of its stake in BCE during the most recent quarter. The investment firm sold 85 shares of BCE which is valued $4,062.Ferguson Wellman Capital Management Inc boosted its stake in BCE in the latest quarter, The investment management firm added 14,155 additional shares and now holds a total of 161,873 shares of BCE (USA) which is valued at $7,797,422. BCE (USA) makes up approx 0.32% of Ferguson Wellman Capital Management Inc’s portfolio.

BCE (USA) closed down -0.09 points or -0.19% at $47.79 with 7,72,176 shares getting traded on Wednesday. Post opening the session at $47.8, the shares hit an intraday low of $47.69 and an intraday high of $48.02 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, BCE (USA) reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.83. The company had revenue of $5270.00 million for the quarter, compared to analysts expectations of $5322.33 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS.

Many Wall Street Analysts have commented on BCE (USA). BCE (USA) was Downgraded by Citigroup to ” Neutral” on May 26, 2016.

BCE Inc. is a communications company. The Company provides residential business and wholesale customers with a range of solutions to all their communications needs including wireless high-speed Internet Internet protocol television (IPTV) and satellite TV business Internet protocol (IP) broadband and information and communications technology (ICT) services. The Company’s segments include Bell Wireless Bell Wireline and Bell Media. The Company’s Bell Wireless segment provides wireless services that are available to virtually all of the Canadian population. The Bell Wireline segment includes voice and data network; high-speed fiber deployment and bell direct to home (DTH) satellite television service. The Company’s Bell Media segment offers specialty and pay television radio digital media and out-of-home advertising. The Company through Bell media operates approximately 110 radio stations in over 50 markets across Canada.

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