The Manufacturers Life Insurance Company Decreases Stock Position in Rogers Communications Inc. (NYSE:RCI)

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

Several other hedge funds and other institutional investors have also recently modified their holdings of RCI. Lindbrook Capital LLC lifted its stake in shares of Rogers Communications by 95.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock worth $47,000 after purchasing an additional 744 shares during the period. Jones Financial Companies Lllp increased its holdings in 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 valued at $55,000 after buying an additional 1,052 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of Rogers Communications by 274.2% during the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock worth $163,000 after acquiring an additional 3,888 shares during the last quarter. V Square Quantitative Management LLC grew its position in shares of Rogers Communications by 19.1% during the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock valued at $178,000 after acquiring an additional 930 shares during the period. Finally, Tidal Investments LLC purchased a new stake in shares of Rogers Communications in the 3rd quarter worth $248,000. 45.49% of the stock is owned by institutional investors.

Rogers Communications Price Performance

Shares of Rogers Communications stock traded up $0.11 during trading on Friday, reaching $25.52. 697,372 shares of the stock traded hands, compared to its average volume of 1,011,133. Rogers Communications Inc. has a 52-week low of $23.18 and a 52-week high of $41.84. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The business has a fifty day simple moving average of $26.43 and a two-hundred day simple moving average of $30.19. The company has a market capitalization of $13.68 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings results 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 firm had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $4.96 billion. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. Sell-side analysts expect that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be given a dividend of $0.3611 per share. The ex-dividend date 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 (DPR) is 59.66%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RCI shares. Scotiabank downgraded Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. Bank of America lowered shares of Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Canaccord Genuity Group raised shares of Rogers Communications from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Finally, Barclays reissued an "equal weight" rating on shares of Rogers Communications in a research note 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $67.00.

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.