Massachusetts Financial Services Co. MA Cuts Stock Holdings in Rogers Communication, Inc. (NYSE:RCI)

Massachusetts Financial Services Co. MA decreased its position in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 14.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,486,897 shares of the Wireless communications provider's stock after selling 427,258 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.46% of Rogers Communication worth $66,124,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in RCI. SBI Securities Co. Ltd. boosted its position in Rogers Communication by 885.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock worth $25,000 after acquiring an additional 850 shares during the period. Versant Capital Management Inc acquired a new position in Rogers Communication during the 1st quarter worth $79,000. CWM LLC raised its stake in shares of Rogers Communication by 57.4% in the 1st quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock worth $100,000 after buying an additional 1,363 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of Rogers Communication by 263.1% in the 1st quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider's stock worth $137,000 after buying an additional 3,718 shares in the last quarter. Finally, Headlands Technologies LLC raised its stake in shares of Rogers Communication by 274.2% in the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock worth $163,000 after buying an additional 3,888 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communication Trading Up 1.2%

NYSE:RCI traded up $0.41 during trading hours on Monday, reaching $33.34. The company's stock had a trading volume of 1,731,088 shares, compared to its average volume of 1,115,056. The firm has a 50-day simple moving average of $28.54 and a 200-day simple moving average of $27.68. Rogers Communication, Inc. has a 1 year low of $23.18 and a 1 year high of $41.84. The firm has a market capitalization of $17.94 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.78 and a beta of 0.76. The company has a debt-to-equity ratio of 3.97, a quick ratio of 0.94 and a current ratio of 1.00.

Rogers Communication (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 company had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $4.96 billion. Rogers Communication had a net margin of 8.53% and a return on equity of 25.28%. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 earnings per share. Research analysts expect that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th were given a dividend of $0.3611 per share. This is an increase from Rogers Communication's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a yield of 4.33%. Rogers Communication's dividend payout ratio (DPR) is 62.23%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RCI. BMO Capital Markets reaffirmed an "outperform" rating on shares of Rogers Communication in a research report on Wednesday, July 2nd. Scotiabank reissued a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. Finally, Canaccord Genuity Group raised Rogers Communication from a "hold" rating to a "buy" rating in a report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $67.00.

Rogers Communication 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.