The Manufacturers Life Insurance Company Sells 262,535 Shares of Rogers Communications Inc. (NYSE:RCI)

The Manufacturers Life Insurance Company trimmed its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,791,024 shares of the Wireless communications provider's stock after selling 262,535 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.90% of Rogers Communications worth $147,481,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lindbrook Capital LLC increased its position in Rogers Communications by 95.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock valued at $47,000 after buying an additional 744 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Rogers Communications by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock worth $55,000 after purchasing an additional 1,052 shares during the period. Headlands Technologies LLC lifted its holdings in shares of Rogers Communications 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 purchasing an additional 3,888 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Rogers Communications by 19.1% in the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock worth $178,000 after purchasing an additional 930 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in Rogers Communications in the 3rd quarter valued at $248,000. 45.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Rogers Communications Stock Performance

Shares of Rogers Communications stock traded up $0.11 during mid-day trading on Friday, hitting $25.52. 697,372 shares of the stock were exchanged, compared to its average volume of 1,010,312. The company has a market capitalization of $13.68 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.43 and a beta of 0.67. 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 50-day simple moving average of $26.43 and a 200 day simple moving average of $30.30. 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 posted 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 firm's revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. Sell-side analysts anticipate that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be given a dividend of $0.3611 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.44 annualized dividend and a yield of 5.66%. This is a positive change from Rogers Communications's previous quarterly dividend of $0.35. Rogers Communications's dividend payout ratio is presently 59.66%.

Rogers Communications 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.