Steinberg Global Asset Management buys $6,717,714 stake in BCE (USA) (BCE)

BCE (USA) (BCE) : Steinberg Global Asset Management scooped up 8,498 additional shares in BCE (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 137,771 shares of BCE (USA) which is valued at $6,717,714.BCE (USA) makes up approximately 0.93% of Steinberg Global Asset Management’s portfolio.

Other Hedge Funds, Including , Qcm Cayman Ltd. boosted its stake in BCE in the latest quarter, The investment management firm added 964 additional shares and now holds a total of 6,464 shares of BCE (USA) which is valued at $315,185. BCE (USA) makes up approx 0.37% of Qcm Cayman Ltd.’s portfolio.Prudential Plc reduced its stake in BCE by selling 3,400 shares or 15.18% in the most recent quarter. The Hedge Fund company now holds 19,000 shares of BCE which is valued at $926,440.Pinebridge Investments reduced its stake in BCE by selling 3,753 shares or 35.06% in the most recent quarter. The Hedge Fund company now holds 6,951 shares of BCE which is valued at $338,931. BCE (USA) makes up approx 0.02% of Pinebridge Investments’s portfolio.Cambridge Investment Research Advisors boosted its stake in BCE in the latest quarter, The investment management firm added 2,678 additional shares and now holds a total of 19,949 shares of BCE (USA) which is valued at $950,969. BCE (USA) makes up approx 0.02% of Cambridge Investment Research Advisors’s portfolio.Mondrian Investment Partners Ltd boosted its stake in BCE in the latest quarter, The investment management firm added 44,024 additional shares and now holds a total of 2,741,316 shares of BCE (USA) which is valued at $129,554,594. BCE (USA) makes up approx 3.07% of Mondrian Investment Partners Ltd’s portfolio.

BCE (USA) opened for trading at $46.6223 and hit $47.04 on the upside on Thursday, eventually ending the session at $46.89, with a gain of 0.41% or 0.19 points. The heightened volatility saw the trading volume jump to 6,77,114 shares. Company has a market cap of $40,771 M.

On the company’s financial health, BCE (USA) reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.91. The company had revenue of $5340.00 million for the quarter, compared to analysts expectations of $5378.48 million. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS.

Investors should note that on Aug 4, 2016, BCE (USA) announced a cash dividend of $0.6825. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 15, 2016.

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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