First Trust Advisors LP Sells 246,616 Shares of Rogers Communication, Inc. $RCI

First Trust Advisors LP lessened its stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 8.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,608,469 shares of the Wireless communications provider's stock after selling 246,616 shares during the period. First Trust Advisors LP owned 0.48% of Rogers Communication worth $100,296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RCI. Manchester Capital Management LLC bought a new position in shares of Rogers Communication in the 4th quarter valued at about $26,000. Farther Finance Advisors LLC lifted its holdings in Rogers Communication by 107.4% in the fourth quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider's stock valued at $30,000 after buying an additional 407 shares during the period. Headlands Technologies LLC raised its position in shares of Rogers Communication by 143.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider's stock valued at $49,000 after acquiring an additional 978 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Rogers Communication by 52.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider's stock valued at $59,000 after purchasing an additional 683 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of Rogers Communication in the 3rd quarter valued at $63,000. Institutional investors own 45.49% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RCI shares. Weiss Ratings cut Rogers Communication from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday. Raymond James Financial assumed coverage on shares of Rogers Communication in a report on Wednesday, July 15th. They set an "outperform" rating for the company. TD Securities reissued a "buy" rating on shares of Rogers Communication in a research report on Thursday. Scotiabank reissued an "outperform" rating on shares of Rogers Communication in a report on Tuesday, July 7th. Finally, Barclays lowered their price objective on shares of Rogers Communication from $37.00 to $36.00 and set an "equal weight" rating for the company in a research report on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $36.00.

Rogers Communication Price Performance

Shares of NYSE RCI opened at $32.76 on Friday. The company has a fifty day moving average price of $35.59 and a 200 day moving average price of $36.57. The firm has a market cap of $17.70 billion, a PE ratio of 3.96, a PEG ratio of 4.07 and a beta of 0.64. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.54. Rogers Communication, Inc. has a 1-year low of $31.38 and a 1-year high of $41.14.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.03. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The company had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $3.91 billion. During the same period last year, the business earned $1.14 EPS. The business's quarterly revenue was up 7.6% on a year-over-year basis. Research analysts predict that Rogers Communication, Inc. will post 3.27 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 8th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Rogers Communication's payout ratio is 15.30%.

Rogers Communication Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.

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