Schafer Cullen Capital Management Inc buys $220.2 Million stake in BCE (USA) (BCE)

BCE (USA) (BCE) : Schafer Cullen Capital Management Inc scooped up 111,300 additional shares in BCE (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 4,768,250 shares of BCE (USA) which is valued at $220.2 Million.BCE (USA) makes up approximately 2.69% of Schafer Cullen Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Baird Financial Group boosted its stake in BCE in the latest quarter, The investment management firm added 9,381 additional shares and now holds a total of 22,201 shares of BCE (USA) which is valued at $1 Million. BCE (USA) makes up approx 0.01% of Baird Financial Group’s portfolio.Wrapmanager Inc boosted its stake in BCE in the latest quarter, The investment management firm added 5,941 additional shares and now holds a total of 36,299 shares of BCE (USA) which is valued at $1.7 Million. BCE (USA) makes up approx 0.75% of Wrapmanager Inc’s portfolio. Gamble Jones Investment Counsel added BCE to its portfolio by purchasing 5,000 company shares during the most recent quarter which is valued at $229,600. BCE (USA) makes up approx 0.03% of Gamble Jones Investment Counsel’s portfolio. Tocqueville Asset Management sold out all of its stake in BCE during the most recent quarter. The investment firm sold 127,571 shares of BCE which is valued $6 Million.Smithbridge Asset Management Incde reduced its stake in BCE by selling 3,300 shares or 5.89% in the most recent quarter. The Hedge Fund company now holds 52,700 shares of BCE which is valued at $2.5 Million. BCE (USA) makes up approx 2.31% of Smithbridge Asset Management Incde’s portfolio.

BCE (USA) opened for trading at $45.94 and hit $46.205 on the upside on Friday, eventually ending the session at $46.01, with a gain of 0.50% or 0.23 points. The heightened volatility saw the trading volume jump to 7,83,695 shares. Company has a market cap of $39,965 M.

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.

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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