Man Group plc Sells 237,579 Shares of Rogers Communications Inc. (NYSE:RCI)

Man Group plc reduced its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 27.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 631,552 shares of the Wireless communications provider’s stock after selling 237,579 shares during the period. Man Group plc owned approximately 0.12% of Rogers Communications worth $31,403,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its holdings in shares of Rogers Communications by 1.8% in the third quarter. Parametric Portfolio Associates LLC now owns 233,065 shares of the Wireless communications provider’s stock worth $11,357,000 after acquiring an additional 4,128 shares during the period. Manning & Napier Group LLC boosted its holdings in shares of Rogers Communications by 6.2% in the fourth quarter. Manning & Napier Group LLC now owns 42,894 shares of the Wireless communications provider’s stock worth $2,130,000 after acquiring an additional 2,515 shares during the period. Barclays PLC boosted its holdings in shares of Rogers Communications by 226.3% in the third quarter. Barclays PLC now owns 57,225 shares of the Wireless communications provider’s stock worth $2,788,000 after acquiring an additional 39,685 shares during the period. Virtu Financial LLC bought a new position in shares of Rogers Communications in the third quarter worth $378,000. Finally, State Street Corp boosted its holdings in shares of Rogers Communications by 24.2% in the third quarter. State Street Corp now owns 7,711 shares of the Wireless communications provider’s stock worth $378,000 after acquiring an additional 1,500 shares during the period. 42.89% of the stock is owned by hedge funds and other institutional investors.

Shares of RCI stock opened at $38.59 on Thursday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.78 and a current ratio of 0.86. Rogers Communications Inc. has a 52-week low of $32.20 and a 52-week high of $54.82. The company has a market capitalization of $18.62 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 2.34 and a beta of 0.55. The business’s fifty day moving average is $45.96 and its 200 day moving average is $48.18.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, January 22nd. The Wireless communications provider reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.22. Rogers Communications had a return on equity of 23.66% and a net margin of 13.55%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the business posted $1.13 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. On average, sell-side analysts forecast that Rogers Communications Inc. will post 3.24 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 10th will be given a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Monday, March 9th. This is an increase from Rogers Communications’s previous quarterly dividend of $0.38. Rogers Communications’s dividend payout ratio (DPR) is 47.92%.

RCI has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $66.00 price target (down from $72.00) on shares of Rogers Communications in a report on Wednesday, March 18th. CIBC reaffirmed a “hold” rating and issued a $68.00 price target on shares of Rogers Communications in a report on Thursday, January 23rd. UBS Group reaffirmed a “hold” rating and issued a $67.00 price target on shares of Rogers Communications in a report on Thursday, January 23rd. Finally, Canaccord Genuity raised Rogers Communications from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $64.83.

Rogers Communications Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

Further Reading: Bar Chart

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

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