Mufg Securities Canada LTD. Trims Holdings in Rogers Communication, Inc. $RCI

Mufg Securities Canada LTD. trimmed its position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 587,985 shares of the Wireless communications provider’s stock after selling 51,018 shares during the period. Mufg Securities Canada LTD. owned about 0.11% of Rogers Communication worth $22,200,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RCI. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Rogers Communication during the 4th quarter worth about $3,172,000. Arax Advisory Partners lifted its holdings in shares of Rogers Communication by 1,468.7% during the 4th quarter. Arax Advisory Partners now owns 7,467 shares of the Wireless communications provider’s stock worth $282,000 after acquiring an additional 6,991 shares during the period. Aigen Investment Management LP purchased a new position in shares of Rogers Communication during the 4th quarter worth about $227,000. Marshall Wace LLP lifted its holdings in shares of Rogers Communication by 33.7% during the 4th quarter. Marshall Wace LLP now owns 140,003 shares of the Wireless communications provider’s stock worth $5,282,000 after acquiring an additional 35,306 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Rogers Communication by 45.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,434,432 shares of the Wireless communications provider’s stock worth $92,086,000 after acquiring an additional 758,336 shares during the period. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Desjardins reiterated a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. TD Securities lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Scotiabank upgraded shares of Rogers Communication from a “hold” rating to an “outperform” rating in a report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $36.00.

Rogers Communication Stock Down 0.0%

RCI opened at $38.54 on Monday. The firm has a 50 day moving average price of $36.03 and a 200 day moving average price of $37.23. The company has a market cap of $20.82 billion, a PE ratio of 4.07, a price-to-earnings-growth ratio of 3.39 and a beta of 0.62. Rogers Communication, Inc. has a 1 year low of $27.20 and a 1 year high of $41.14. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $5.44 billion. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. Sell-side analysts expect that Rogers Communication, Inc. will post 3.55 earnings per share for the current year.

Rogers Communication Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 9th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 9th. Rogers Communication’s dividend payout ratio is 15.30%.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.