Rogers Communications Inc. (NYSE:RCI) Shares Sold by Tobam

Tobam reduced its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 53.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,995 shares of the Wireless communications provider’s stock after selling 9,197 shares during the period. Tobam’s holdings in Rogers Communications were worth $246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RCI. Creative Planning boosted its holdings in Rogers Communications by 50.8% during the second quarter. Creative Planning now owns 21,796 shares of the Wireless communications provider’s stock worth $806,000 after buying an additional 7,338 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Rogers Communications by 110.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after acquiring an additional 522 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Rogers Communications during the 3rd quarter worth approximately $323,000. First Affirmative Financial Network grew its holdings in shares of Rogers Communications by 17.6% in the 3rd quarter. First Affirmative Financial Network now owns 7,584 shares of the Wireless communications provider’s stock worth $305,000 after acquiring an additional 1,134 shares during the period. Finally, Grove Bank & Trust increased its stake in Rogers Communications by 41.0% in the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after purchasing an additional 302 shares in the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Morgan Stanley began coverage on shares of Rogers Communications in a research report on Monday, December 16th. They issued an “underweight” rating on the stock. Finally, Barclays restated an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Trading Up 0.2 %

Rogers Communications stock opened at $26.95 on Friday. The stock has a 50-day moving average price of $30.72 and a 200 day moving average price of $35.84. Rogers Communications Inc. has a 52 week low of $26.57 and a 52 week high of $46.39. The stock has a market cap of $14.40 billion, a PE ratio of 11.61, a P/E/G ratio of 1.03 and a beta of 0.69. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. Equities research analysts predict that Rogers Communications Inc. will post 3.58 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be issued a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a dividend yield of 5.15%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio (DPR) is 60.78%.

About Rogers Communications

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.