Rogers Communications Inc. (NYSE:RCI) Shares Sold by Tacita Capital Inc

Tacita Capital Inc cut its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 6.7% in the 4th quarter, HoldingsChannel reports. The fund owned 6,915 shares of the Wireless communications provider’s stock after selling 497 shares during the period. Tacita Capital Inc’s holdings in Rogers Communications were worth $212,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. National Bank of Canada FI raised its holdings in Rogers Communications by 18.6% in the 3rd quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock valued at $250,886,000 after acquiring an additional 977,924 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Rogers Communications by 371.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after acquiring an additional 3,980,525 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Rogers Communications by 90.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock valued at $115,775,000 after acquiring an additional 1,375,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Rogers Communications by 86.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock valued at $104,965,000 after acquiring an additional 1,211,482 shares during the last quarter. Finally, FMR LLC raised its holdings in Rogers Communications by 2.8% in the 3rd quarter. FMR LLC now owns 2,496,298 shares of the Wireless communications provider’s stock valued at $100,372,000 after acquiring an additional 68,759 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RCI shares. Barclays restated an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley started coverage on Rogers Communications in a report on Monday, December 16th. They set an “underweight” rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Stock Down 0.5 %

Shares of NYSE RCI opened at $27.62 on Tuesday. Rogers Communications Inc. has a 12-month low of $26.57 and a 12-month high of $44.53. The company has a market cap of $14.76 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.43 and a beta of 0.68. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The stock has a fifty day moving average price of $28.77 and a 200 day moving average price of $34.52.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. Research analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be issued a $0.347 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.39 annualized dividend and a yield of 5.02%. Rogers Communications’s dividend payout ratio is currently 59.05%.

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.