Marshall Wace North America L.P. Has $26.30 Million Position in Rogers Communications Inc. (RCI)

Marshall Wace North America L.P. decreased its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 64.2% in the 3rd quarter, Holdings Channel reports. The firm owned 511,777 shares of the Wireless communications provider’s stock after selling 919,501 shares during the period. Marshall Wace North America L.P.’s holdings in Rogers Communications were worth $26,301,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Rogers Communications by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,184,653 shares of the Wireless communications provider’s stock valued at $472,183,000 after purchasing an additional 237,435 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Rogers Communications by 7.5% in the 3rd quarter. Great West Life Assurance Co. Can now owns 5,995,893 shares of the Wireless communications provider’s stock valued at $308,564,000 after purchasing an additional 417,187 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Rogers Communications in the 3rd quarter valued at about $229,495,000. Letko Brosseau & Associates Inc. raised its stake in Rogers Communications by 0.4% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 4,438,612 shares of the Wireless communications provider’s stock valued at $210,686,000 after purchasing an additional 16,851 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Rogers Communications by 22.5% in the 3rd quarter. Toronto Dominion Bank now owns 4,291,153 shares of the Wireless communications provider’s stock valued at $221,016,000 after purchasing an additional 787,068 shares during the last quarter. 44.80% of the stock is owned by hedge funds and other institutional investors.

RCI traded up $0.41 during midday trading on Friday, hitting $54.03. The company’s stock had a trading volume of 20,384 shares, compared to its average volume of 387,439. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.72 and a quick ratio of 0.65. The stock has a market capitalization of $27.82 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 3.34 and a beta of 0.74. Rogers Communications Inc. has a 52-week low of $43.11 and a 52-week high of $54.83.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Friday, October 19th. The Wireless communications provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.88 by $0.05. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Rogers Communications had a return on equity of 29.37% and a net margin of 13.34%. Equities research analysts anticipate that Rogers Communications Inc. will post 3.23 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 11th will be issued a $0.3695 dividend. This is a boost from Rogers Communications’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 10th. This represents a $1.48 annualized dividend and a yield of 2.74%. Rogers Communications’s payout ratio is 54.24%.

Several research analysts recently weighed in on RCI shares. Zacks Investment Research raised shares of Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Wednesday, September 19th. Desjardins cut Rogers Communications from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Finally, Edward Jones cut Rogers Communications from a “buy” rating to a “hold” rating and set a $52.67 price target for the company. in a report on Thursday, November 29th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $54.89.

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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.

See Also: Bull Market

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

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