Rogers Communication, Inc. (NYSE:RCI) Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 22.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,478,389 shares of the Wireless communications provider’s stock after selling 1,907,184 shares during the period. TD Asset Management Inc’s holdings in Rogers Communication were worth $172,982,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State of Tennessee Department of Treasury boosted its holdings in shares of Rogers Communication by 0.3% in the fourth quarter. State of Tennessee Department of Treasury now owns 218,308 shares of the Wireless communications provider’s stock valued at $6,708,000 after acquiring an additional 720 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Rogers Communication by 885.4% during the first quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider’s stock worth $25,000 after buying an additional 850 shares in the last quarter. JTC Employer Solutions Trustee Ltd raised its holdings in shares of Rogers Communication by 1.2% during the first quarter. JTC Employer Solutions Trustee Ltd now owns 102,545 shares of the Wireless communications provider’s stock valued at $2,755,000 after acquiring an additional 1,180 shares during the period. CWM LLC boosted its stake in Rogers Communication by 57.4% in the 1st quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider’s stock worth $100,000 after purchasing an additional 1,363 shares during the period. Finally, Prudential PLC boosted its stake in Rogers Communication by 21.6% in the 4th quarter. Prudential PLC now owns 8,734 shares of the Wireless communications provider’s stock worth $268,000 after purchasing an additional 1,552 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Stock Down 0.4%

Shares of NYSE:RCI opened at $34.32 on Friday. Rogers Communication, Inc. has a one year low of $23.18 and a one year high of $41.84. The company has a 50 day moving average of $29.42 and a 200-day moving average of $27.82. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.70 and a quick ratio of 0.94. The stock has a market cap of $18.46 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.85 and a beta of 0.76.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.80 by $0.02. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The company had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter in the previous year, the company earned $1.16 EPS. Rogers Communication’s revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 8th will be paid a $0.3672 dividend. This represents a $1.47 annualized dividend and a yield of 4.28%. The ex-dividend date is Monday, September 8th. This is an increase from Rogers Communication’s previous quarterly dividend of $0.36. Rogers Communication’s dividend payout ratio is presently 62.66%.

Analysts Set New Price Targets

Several research firms have weighed in on RCI. Scotiabank reiterated a “sector perform” rating on shares of Rogers Communication in a research note on Tuesday, July 15th. BMO Capital Markets restated an “outperform” rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Finally, Canaccord Genuity Group upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $72.00.

About Rogers Communication

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.