Envestnet Asset Management Inc. reduced its position in Rogers Communications (NYSE:RCI) (TSE:RCI.B) by 16.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,666 shares of the Wireless communications provider’s stock after selling 1,720 shares during the period. Envestnet Asset Management Inc.’s holdings in Rogers Communications were worth $441,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc increased its position in Rogers Communications by 2.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,799,249 shares of the Wireless communications provider’s stock worth $194,400,000 after purchasing an additional 82,518 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Rogers Communications by 53.7% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 25,750 shares of the Wireless communications provider’s stock worth $1,316,000 after purchasing an additional 9,000 shares during the last quarter. First Trust Advisors LP increased its position in Rogers Communications by 17.1% in the 4th quarter. First Trust Advisors LP now owns 317,432 shares of the Wireless communications provider’s stock worth $16,167,000 after purchasing an additional 46,308 shares during the last quarter. Jefferies Group LLC increased its position in Rogers Communications by 45.6% in the 4th quarter. Jefferies Group LLC now owns 62,228 shares of the Wireless communications provider’s stock worth $3,176,000 after purchasing an additional 19,489 shares during the last quarter. Finally, Aperio Group LLC increased its position in Rogers Communications by 5.3% in the 4th quarter. Aperio Group LLC now owns 182,009 shares of the Wireless communications provider’s stock worth $9,270,000 after purchasing an additional 9,087 shares during the last quarter. 47.50% of the stock is currently owned by institutional investors.
Shares of NYSE RCI opened at $45.47 on Tuesday. The company has a current ratio of 0.44, a quick ratio of 0.39 and a debt-to-equity ratio of 2.00. The stock has a market cap of $23,192.28, a PE ratio of 16.78, a P/E/G ratio of 2.88 and a beta of 0.84. Rogers Communications has a 52 week low of $43.11 and a 52 week high of $54.95.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, January 25th. The Wireless communications provider reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.01. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.63 billion. Rogers Communications had a return on equity of 30.65% and a net margin of 12.09%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 EPS. research analysts expect that Rogers Communications will post 3.13 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Monday, March 12th were issued a dividend of $0.3843 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, March 9th. Rogers Communications’s dividend payout ratio is 57.56%.
RCI has been the topic of several research reports. Zacks Investment Research raised Rogers Communications from a “sell” rating to a “hold” rating in a research report on Monday, January 29th. Barclays reaffirmed a “hold” rating and issued a $55.00 target price on shares of Rogers Communications in a research report on Friday, January 26th. Desjardins raised Rogers Communications from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, National Bank Financial lowered Rogers Communications from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Rogers Communications currently has an average rating of “Buy” and a consensus target price of $62.75.
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Rogers Communications Profile
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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