Rogers Communication, Inc. $RCI Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 33.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,343,775 shares of the Wireless communications provider’s stock after selling 2,209,668 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Rogers Communication were worth $167,083,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RCI. TD Asset Management Inc lifted its holdings in Rogers Communication by 2.3% in the fourth quarter. TD Asset Management Inc now owns 8,540,114 shares of the Wireless communications provider’s stock valued at $322,789,000 after acquiring an additional 195,189 shares during the last quarter. Fiera Capital Corp raised its position in Rogers Communication by 8,881.3% in the fourth quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock valued at $271,751,000 after purchasing an additional 7,116,744 shares during the period. Bank of Nova Scotia raised its position in Rogers Communication by 7.6% in the first quarter. Bank of Nova Scotia now owns 6,280,164 shares of the Wireless communications provider’s stock valued at $241,467,000 after purchasing an additional 445,964 shares during the period. Morgan Stanley lifted its stake in shares of Rogers Communication by 138.0% in the 4th quarter. Morgan Stanley now owns 5,080,341 shares of the Wireless communications provider’s stock valued at $191,681,000 after purchasing an additional 2,945,885 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Rogers Communication by 67.8% during the 3rd quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock worth $167,765,000 after purchasing an additional 1,966,476 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Stock Performance

Shares of RCI stock opened at $32.76 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.54. The firm has a fifty day moving average price of $35.59 and a 200 day moving average price of $36.57. The company has a market cap of $17.70 billion, a P/E ratio of 3.96, a PEG ratio of 4.07 and a beta of 0.64. Rogers Communication, Inc. has a 12 month low of $31.38 and a 12 month high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.Rogers Communication’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $1.14 earnings per share. Sell-side analysts predict that Rogers Communication, Inc. will post 3.27 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Rogers Communication’s dividend payout ratio (DPR) is 15.30%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RCI shares. Barclays cut their price objective on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Weiss Ratings cut shares of Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Scotiabank reissued an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, July 7th. Finally, Wall Street Zen lowered shares of Rogers Communication from a “hold” rating to a “sell” rating in a report on Saturday. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Rogers Communication has an average rating of “Hold” and an average 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.