Arrowstreet Capital Limited Partnership Sells 3,332,922 Shares of Rogers Communication, Inc. $RCI

Arrowstreet Capital Limited Partnership reduced its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 33.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,553,443 shares of the Wireless communications provider’s stock after selling 3,332,922 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Rogers Communication were worth $247,368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RCI. Manchester Capital Management LLC bought a new stake in Rogers Communication in the fourth quarter valued at $26,000. Farther Finance Advisors LLC increased its stake in Rogers Communication by 107.4% in the fourth quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock valued at $30,000 after purchasing an additional 407 shares in the last quarter. Headlands Technologies LLC increased its stake in Rogers Communication by 143.2% in the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock valued at $49,000 after purchasing an additional 978 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Rogers Communication in the third quarter valued at $58,000. Finally, EverSource Wealth Advisors LLC increased its stake in Rogers Communication by 52.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock valued at $59,000 after purchasing an additional 683 shares in the last quarter. 45.49% of the stock is owned by institutional investors.

Rogers Communication Trading Down 0.0%

NYSE:RCI opened at $38.54 on Monday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.55 and a quick ratio of 0.53. The firm has a 50-day moving average of $36.03 and a 200-day moving average of $37.23. The company has a market cap of $20.82 billion, a PE ratio of 4.07, a PEG ratio of 3.39 and a beta of 0.62. Rogers Communication, Inc. has a one year low of $27.20 and a one year high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the firm posted $0.99 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts expect that Rogers Communication, Inc. will post 3.55 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 9th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 9th. Rogers Communication’s dividend payout ratio is presently 15.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. TD Securities downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Scotiabank raised shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research note on Thursday, April 23rd. Finally, Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.