Rogers Communication, Inc. $RCI Stake Lowered by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 17.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,007,135 shares of the Wireless communications provider’s stock after selling 427,297 shares during the period. The Manufacturers Life Insurance Company’s holdings in Rogers Communication were worth $77,122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. increased its position in Rogers Communication by 1.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,446,406 shares of the Wireless communications provider’s stock worth $92,242,000 after purchasing an additional 32,872 shares during the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Rogers Communication by 4.2% during the 1st quarter. Hillsdale Investment Management Inc. now owns 991,365 shares of the Wireless communications provider’s stock valued at $38,117,000 after buying an additional 39,638 shares during the last quarter. Swiss Life Asset Management Ltd grew its stake in shares of Rogers Communication by 66.8% in the 4th quarter. Swiss Life Asset Management Ltd now owns 90,206 shares of the Wireless communications provider’s stock valued at $3,406,000 after buying an additional 36,114 shares in the last quarter. Lorne Steinberg Wealth Management Inc. grew its stake in shares of Rogers Communication by 23.8% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 160,009 shares of the Wireless communications provider’s stock valued at $6,048,000 after buying an additional 30,802 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Rogers Communication by 277.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 317,533 shares of the Wireless communications provider’s stock worth $12,208,000 after buying an additional 233,449 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Price Performance

Shares of Rogers Communication stock opened at $34.85 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54. The firm has a fifty day simple moving average of $35.50 and a 200-day simple moving average of $36.50. The stock has a market capitalization of $18.83 billion, a price-to-earnings ratio of 4.21, a PEG ratio of 4.33 and a beta of 0.64. Rogers Communication, Inc. has a 1-year low of $31.38 and a 1-year high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.91 billion. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. Rogers Communication’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $1.14 EPS. On average, sell-side analysts expect that Rogers Communication, Inc. will post 3.27 earnings per share for the current year.

Rogers Communication Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Tuesday, September 8th. Rogers Communication’s dividend payout ratio is 17.51%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RCI. Desjardins reiterated a “hold” rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Scotiabank restated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, July 7th. TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a research note on Thursday, July 23rd. Raymond James Financial assumed coverage on shares of Rogers Communication in a report on Wednesday, July 15th. They issued an “outperform” rating for the company. Finally, Wall Street Zen downgraded shares of Rogers Communication from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.00.

Rogers Communication 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.