Rogers Communications Inc. (NYSE:RCI) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 371.0% during the third quarter, HoldingsChannel reports. The fund owned 5,053,559 shares of the Wireless communications provider’s stock after buying an additional 3,980,525 shares during the period. The Manufacturers Life Insurance Company’s holdings in Rogers Communications were worth $203,334,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RCI. Cromwell Holdings LLC acquired a new stake in shares of Rogers Communications during the 3rd quarter valued at approximately $31,000. Ridgewood Investments LLC purchased a new position in Rogers Communications in the 2nd quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. raised its holdings in Rogers Communications by 110.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after purchasing an additional 522 shares during the last quarter. Grove Bank & Trust boosted its position in Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after purchasing an additional 302 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Rogers Communications in the second quarter valued at $55,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Wall Street Analysts Forecast Growth

RCI has been the subject of several research reports. TD Securities lifted their price target on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. BMO Capital Markets increased their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.75.

Rogers Communications Stock Down 1.4 %

RCI opened at $35.39 on Wednesday. The firm has a market cap of $18.85 billion, a P/E ratio of 17.26, a PEG ratio of 1.09 and a beta of 0.69. The business’s fifty day simple moving average is $37.78 and its 200 day simple moving average is $38.50. Rogers Communications Inc. has a 52 week low of $34.95 and a 52 week high of $48.19. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.35. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the company earned $0.95 EPS. As a group, equities research analysts anticipate that Rogers Communications Inc. will post 3.55 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $0.3611 dividend. The ex-dividend date is Monday, December 9th. This represents a $1.44 annualized dividend and a yield of 4.08%. Rogers Communications’s dividend payout ratio (DPR) is presently 71.71%.

Rogers Communications Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.