Sumitomo Mitsui Trust Holdings Inc. Sells 70,864 Shares of Rogers Communications Inc. (NYSE:RCI)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 8.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 781,003 shares of the Wireless communications provider's stock after selling 70,864 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.15% of Rogers Communications worth $36,977,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Orion Portfolio Solutions LLC increased its stake in shares of Rogers Communications by 317.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 33,877 shares of the Wireless communications provider's stock valued at $1,301,000 after buying an additional 25,766 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Rogers Communications by 101.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 131,276 shares of the Wireless communications provider's stock valued at $5,040,000 after buying an additional 66,231 shares during the period. Invesco Ltd. increased its stake in shares of Rogers Communications by 13.7% in the 3rd quarter. Invesco Ltd. now owns 200,294 shares of the Wireless communications provider's stock valued at $7,689,000 after buying an additional 24,178 shares during the period. Scotia Capital Inc. increased its stake in shares of Rogers Communications by 9.3% in the 3rd quarter. Scotia Capital Inc. now owns 2,625,594 shares of the Wireless communications provider's stock valued at $100,617,000 after buying an additional 224,293 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Rogers Communications by 32.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,101,225 shares of the Wireless communications provider's stock valued at $81,049,000 after buying an additional 508,900 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communications Trading Up 0.6 %

Shares of NYSE:RCI traded up $0.24 during midday trading on Friday, hitting $38.54. The company had a trading volume of 951,672 shares, compared to its average volume of 723,908. Rogers Communications Inc. has a 12 month low of $36.55 and a 12 month high of $50.00. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 3.81. The stock has a market cap of $20.37 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 1.66 and a beta of 0.59. The firm has a fifty day simple moving average of $42.34 and a 200 day simple moving average of $43.17.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its earnings results on Thursday, February 1st. The Wireless communications provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.11. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.99 billion. Rogers Communications had a return on equity of 22.17% and a net margin of 4.38%. On average, analysts predict that Rogers Communications Inc. will post 3.58 EPS for the current year.

Rogers Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Monday, March 11th were issued a dividend of $0.3742 per share. The ex-dividend date was Friday, March 8th. This is a positive change from Rogers Communications's previous quarterly dividend of $0.36. This represents a $1.50 annualized dividend and a yield of 3.88%. Rogers Communications's payout ratio is currently 122.50%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays lowered their target price on Rogers Communications from $52.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, April 10th. StockNews.com cut Rogers Communications from a "hold" rating to a "sell" rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.00.

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.