Wellington Management Group LLP Reduces Position in Rogers Communication, Inc. $RCI

Wellington Management Group LLP trimmed its holdings in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 36.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,709 shares of the Wireless communications provider's stock after selling 15,715 shares during the period. Wellington Management Group LLP's holdings in Rogers Communication were worth $740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Mackenzie Financial Corp grew its stake in Rogers Communication by 0.4% during the 1st quarter. Mackenzie Financial Corp now owns 8,368,837 shares of the Wireless communications provider's stock valued at $223,483,000 after acquiring an additional 37,013 shares in the last quarter. Bank of Nova Scotia grew its position in shares of Rogers Communication by 3.4% in the first quarter. Bank of Nova Scotia now owns 7,998,907 shares of the Wireless communications provider's stock valued at $213,641,000 after purchasing an additional 262,705 shares in the last quarter. Letko Brosseau & Associates Inc. grew its position in shares of Rogers Communication by 13.0% in the first quarter. Letko Brosseau & Associates Inc. now owns 5,885,187 shares of the Wireless communications provider's stock valued at $157,143,000 after purchasing an additional 674,807 shares in the last quarter. Scotia Capital Inc. increased its holdings in shares of Rogers Communication by 10.0% in the first quarter. Scotia Capital Inc. now owns 4,068,135 shares of the Wireless communications provider's stock valued at $108,542,000 after purchasing an additional 370,490 shares during the last quarter. Finally, Burgundy Asset Management Ltd. lifted its position in Rogers Communication by 38.6% during the first quarter. Burgundy Asset Management Ltd. now owns 3,509,952 shares of the Wireless communications provider's stock worth $93,828,000 after buying an additional 978,348 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Scotiabank restated a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. BMO Capital Markets reissued an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Finally, Barclays raised their price objective on shares of Rogers Communication from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Rogers Communication presently has a consensus rating of "Hold" and a consensus target price of $59.00.

Rogers Communication Stock Up 0.7%

Shares of RCI stock traded up $0.25 during trading hours on Friday, reaching $35.84. 1,225,759 shares of the stock were exchanged, compared to its average volume of 801,740. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.70 and a quick ratio of 1.64. Rogers Communication, Inc. has a 12-month low of $23.18 and a 12-month high of $41.84. The firm has a market capitalization of $19.28 billion, a P/E ratio of 17.83, a P/E/G ratio of 2.32 and a beta of 0.79. The business's fifty day moving average is $33.99 and its two-hundred day moving average is $29.18.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.02. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The business had revenue of $3.82 billion during the quarter, compared to analysts' expectations of $5.12 billion. During the same period in the previous year, the company earned $1.16 EPS. The company's revenue for the quarter was up 2.4% on a year-over-year basis. As a group, 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 will be paid on Friday, October 3rd. Stockholders of record on Monday, September 8th will be given a dividend of $0.3672 per share. This is a boost from Rogers Communication's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, September 8th. This represents a $1.47 annualized dividend and a dividend yield of 4.1%. Rogers Communication's dividend payout ratio is 71.64%.

About Rogers Communication

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.