Toronto Dominion Bank Has $171.18 Million Position in Rogers Communications (RCI)

Toronto Dominion Bank lifted its position in shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) by 48.3% in the 1st quarter, HoldingsChannel reports. The fund owned 3,827,996 shares of the Wireless communications provider’s stock after buying an additional 1,246,694 shares during the quarter. Rogers Communications comprises approximately 0.4% of Toronto Dominion Bank’s investment portfolio, making the stock its 27th largest position. Toronto Dominion Bank’s holdings in Rogers Communications were worth $171,183,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in Rogers Communications by 2.2% in the fourth 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. boosted its holdings in Rogers Communications by 53.7% in the fourth 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 boosted its holdings in Rogers Communications by 17.1% in the fourth 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 boosted its holdings in Rogers Communications by 45.6% in the fourth 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 boosted its holdings in Rogers Communications by 5.3% in the fourth 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. 49.19% of the stock is owned by institutional investors.

Several brokerages recently issued reports on RCI. Zacks Investment Research cut shares of Rogers Communications from a “hold” rating to a “sell” rating in a report on Thursday, April 19th. Barclays restated a “hold” rating and issued a $55.00 target price on shares of Rogers Communications in a report on Friday, January 26th. Finally, National Bank Financial cut shares of Rogers Communications from an “outperform” rating to a “sector perform” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $61.67.

Shares of Rogers Communications stock opened at $48.65 on Wednesday. The firm has a market cap of $25.03 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 3.07 and a beta of 0.84. Rogers Communications has a 1-year low of $43.11 and a 1-year high of $54.95. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.59 and a current ratio of 0.65.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, April 19th. The Wireless communications provider reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.11. The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Rogers Communications had a net margin of 12.73% and a return on equity of 30.77%. equities analysts expect that Rogers Communications will post 3.17 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Monday, June 11th will be paid a dividend of $0.3821 per share. This represents a $1.53 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, June 8th. Rogers Communications’s dividend payout ratio is presently 57.56%.

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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Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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