AMP Capital Investors Ltd Decreases Holdings in Rogers Communications Inc. Class B (RCI)

AMP Capital Investors Ltd trimmed its holdings in Rogers Communications Inc. Class B (NYSE:RCI) (TSE:RCI.B) by 22.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,595 shares of the Wireless communications provider’s stock after selling 38,273 shares during the quarter. AMP Capital Investors Ltd’s holdings in Rogers Communications Inc. Class B were worth $6,152,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Willis Investment Counsel lifted its stake in Rogers Communications Inc. Class B by 1.0% in the 1st quarter. Willis Investment Counsel now owns 104,600 shares of the Wireless communications provider’s stock worth $4,674,000 after purchasing an additional 1,065 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Rogers Communications Inc. Class B by 7.8% in the 1st quarter. Wells Fargo & Company MN now owns 16,437 shares of the Wireless communications provider’s stock worth $734,000 after purchasing an additional 1,189 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Rogers Communications Inc. Class B by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 386,615 shares of the Wireless communications provider’s stock worth $18,349,000 after purchasing an additional 2,042 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Rogers Communications Inc. Class B by 32.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 10,088 shares of the Wireless communications provider’s stock worth $450,000 after purchasing an additional 2,456 shares in the last quarter. Finally, Verition Fund Management LLC raised its position in shares of Rogers Communications Inc. Class B by 28.9% during the 1st quarter. Verition Fund Management LLC now owns 11,148 shares of the Wireless communications provider’s stock valued at $498,000 after buying an additional 2,501 shares during the period. 46.11% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on RCI. ValuEngine raised shares of Rogers Communications Inc. Class B from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Barclays reduced their price target on shares of Rogers Communications Inc. Class B from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.00.

RCI stock opened at $52.21 on Friday. The company has a market cap of $26.93 billion, a PE ratio of 19.27, a PEG ratio of 3.30 and a beta of 0.86. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.60 and a current ratio of 0.67. Rogers Communications Inc. Class B has a one year low of $43.11 and a one year high of $54.95.

Rogers Communications Inc. Class B (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Thursday, July 19th. The Wireless communications provider reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.28. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.78 billion. Rogers Communications Inc. Class B had a net margin of 12.66% and a return on equity of 29.52%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 EPS. analysts forecast that Rogers Communications Inc. Class B will post 3.17 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Friday, September 14th will be given a dividend of $0.369 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, September 13th. Rogers Communications Inc. Class B’s payout ratio is presently 54.61%.

About Rogers Communications Inc. Class B

Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.

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Institutional Ownership by Quarter for Rogers Communications Inc. Class B (NYSE:RCI)

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