Rogers Communications Inc. (NYSE:RCI) Shares Sold by Bank of Nova Scotia Trust Co.

Bank of Nova Scotia Trust Co. trimmed its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,599 shares of the Wireless communications provider’s stock after selling 5,755 shares during the quarter. Bank of Nova Scotia Trust Co.’s holdings in Rogers Communications were worth $1,647,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RCI. FIL Ltd grew its holdings in shares of Rogers Communications by 7.2% during the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider’s stock worth $1,028,336,000 after buying an additional 2,244,240 shares during the last quarter. Bank of Nova Scotia lifted its holdings in shares of Rogers Communications by 20.6% during the fourth 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 during the period. Arrowstreet Capital Limited Partnership grew its position in Rogers Communications by 123.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider’s stock valued at $206,565,000 after buying an additional 3,717,487 shares during the last quarter. 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 period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Rogers Communications by 0.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,914,155 shares of the Wireless communications provider’s stock worth $89,552,000 after acquiring an additional 17,666 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Stock Performance

NYSE:RCI opened at $25.90 on Friday. 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 company has a market capitalization of $13.88 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The firm has a 50-day moving average price of $26.95 and a two-hundred day moving average price of $31.20. Rogers Communications Inc. has a twelve month low of $23.18 and a twelve month high of $41.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. As a group, research analysts expect that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th were issued a $0.347 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.36%. Rogers Communications’s dividend payout ratio (DPR) is 59.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Scotiabank downgraded shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st. Canaccord Genuity Group upgraded Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday, April 4th. Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Barclays restated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. 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’s stock. According to MarketBeat.com, the company has an average 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.