Voya Investment Management LLC Sells 30,930 Shares of Rogers Communications Inc. (NYSE:RCI)

Voya Investment Management LLC decreased its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 64.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,109 shares of the Wireless communications provider's stock after selling 30,930 shares during the period. Voya Investment Management LLC's holdings in Rogers Communications were worth $526,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its position in shares of Rogers Communications by 123.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock worth $206,565,000 after acquiring an additional 3,717,487 shares in the last quarter. FIL Ltd boosted its stake in Rogers Communications by 7.2% during the 4th quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock valued at $1,028,336,000 after purchasing an additional 2,244,240 shares during the last quarter. Bank of Nova Scotia increased its holdings in Rogers Communications by 20.6% during the 4th quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider's stock worth $237,784,000 after purchasing an additional 1,320,200 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Rogers Communications by 5,526.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 591,944 shares of the Wireless communications provider's stock valued at $18,177,000 after buying an additional 581,424 shares during the last quarter. Finally, Scotia Capital Inc. increased its stake in Rogers Communications by 18.3% in the 4th quarter. Scotia Capital Inc. now owns 3,697,645 shares of the Wireless communications provider's stock valued at $113,217,000 after buying an additional 572,270 shares during the last quarter. Institutional investors own 45.49% of the company's stock.

Rogers Communications Stock Performance

NYSE RCI traded up $0.41 on Thursday, hitting $25.39. 140,233 shares of the stock traded hands, compared to its average volume of 1,013,841. The firm has a market capitalization of $13.61 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 1.43 and a beta of 0.73. The business's fifty day moving average is $26.02 and its two-hundred day moving average is $29.58. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. 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 announced 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 firm 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 company's revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $0.99 EPS. As a group, equities analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be issued a $0.3611 dividend. The ex-dividend date is Monday, June 9th. This is an increase from Rogers Communications's previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a yield of 5.69%. Rogers Communications's dividend payout ratio (DPR) is 59.66%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays restated an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. Finally, Canaccord Genuity Group raised Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.00.

About Rogers Communications

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.