Rogers Communications Inc. (NYSE:RCI) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lowered its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,296 shares of the Wireless communications provider’s stock after selling 500 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Rogers Communications were worth $1,339,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in shares of Rogers Communications by 371.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after acquiring an additional 3,980,525 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Rogers Communications during the third quarter worth $726,000. Toronto Dominion Bank lifted its position in shares of Rogers Communications by 53.9% in the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock worth $233,099,000 after buying an additional 2,206,690 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in shares of Rogers Communications by 13.1% in the 3rd quarter. Intact Investment Management Inc. now owns 2,255,441 shares of the Wireless communications provider’s stock valued at $90,695,000 after buying an additional 261,220 shares during the period. Finally, Canoe Financial LP boosted its holdings in shares of Rogers Communications by 14.4% in the 3rd quarter. Canoe Financial LP now owns 1,133,087 shares of the Wireless communications provider’s stock valued at $45,624,000 after buying an additional 142,224 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. TD Securities raised their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. BMO Capital Markets raised their price target on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.75.

Rogers Communications Price Performance

NYSE RCI opened at $35.15 on Friday. The company has a 50-day moving average price of $37.07 and a two-hundred day moving average price of $38.29. Rogers Communications Inc. has a 52 week low of $34.83 and a 52 week high of $48.19. The stock has a market cap of $18.79 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 1.11 and a beta of 0.67. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.07 by $0.35. The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period last year, the firm earned $0.95 EPS. Analysts forecast that Rogers Communications Inc. will post 3.56 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date is Monday, December 9th. Rogers Communications’s dividend payout ratio is currently 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.