Axa S.A. Sells 120,014 Shares of Rogers Communications Inc. (NYSE:RCI)

AXA S.A. cut its position in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 84.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,199 shares of the Wireless communications provider's stock after selling 120,014 shares during the quarter. AXA S.A.'s holdings in Rogers Communications were worth $682,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. FIL Ltd boosted its holdings in shares of Rogers Communications by 7.2% in the 4th quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock worth $1,028,336,000 after buying an additional 2,244,240 shares during the last quarter. Bank of Nova Scotia grew its stake in Rogers Communications by 20.6% in the 4th quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider's stock valued at $237,784,000 after buying an additional 1,320,200 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Rogers Communications by 123.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock worth $206,565,000 after acquiring an additional 3,717,487 shares in the last quarter. Scotia Capital Inc. lifted its position in shares of Rogers Communications by 18.3% during the fourth quarter. Scotia Capital Inc. now owns 3,697,645 shares of the Wireless communications provider's stock worth $113,217,000 after acquiring an additional 572,270 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Rogers Communications by 0.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,914,155 shares of the Wireless communications provider's stock worth $89,552,000 after acquiring an additional 17,666 shares during the period. 45.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Canaccord Genuity Group raised shares of Rogers Communications from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Bank of America cut shares of Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. Finally, Barclays reissued an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Rogers Communications has a consensus rating of "Hold" and a consensus price target of $67.00.

Rogers Communications Trading Down 1.4%

NYSE:RCI traded down $0.35 during midday trading on Tuesday, reaching $25.42. 985,062 shares of the stock traded hands, compared to its average volume of 1,014,968. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The company has a fifty day moving average of $26.15 and a 200 day moving average of $29.64. The stock has a market capitalization of $13.63 billion, a P/E ratio of 10.96, a PEG ratio of 1.43 and a beta of 0.73. Rogers Communications Inc. has a 12 month low of $23.18 and a 12 month high of $41.84.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings data on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). The business had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $4.96 billion. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. The company's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. On average, research analysts predict that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be issued a $0.3611 dividend. The ex-dividend date is Monday, June 9th. This is a positive change from Rogers Communications's previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a yield of 5.68%. Rogers Communications's dividend payout ratio is 59.66%.

Rogers Communications Company Profile

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.