TD Asset Management Inc. Trims Stake in Rogers Communications Inc. (RCI)

TD Asset Management Inc. cut its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,639,967 shares of the Wireless communications provider’s stock after selling 115,264 shares during the quarter. Rogers Communications makes up approximately 1.0% of TD Asset Management Inc.’s holdings, making the stock its 21st biggest holding. TD Asset Management Inc.’s holdings in Rogers Communications were worth $679,992,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc increased its position in shares of Rogers Communications by 2.7% during the third quarter. Vanguard Group Inc now owns 9,184,653 shares of the Wireless communications provider’s stock worth $472,183,000 after acquiring an additional 237,435 shares during the period. Great West Life Assurance Co. Can increased its holdings in Rogers Communications by 2.0% during the fourth quarter. Great West Life Assurance Co. Can now owns 6,117,849 shares of the Wireless communications provider’s stock valued at $313,882,000 after buying an additional 121,956 shares during the period. Mackenzie Financial Corp increased its holdings in Rogers Communications by 26.6% during the fourth quarter. Mackenzie Financial Corp now owns 3,826,705 shares of the Wireless communications provider’s stock valued at $196,157,000 after buying an additional 803,916 shares during the period. Toronto Dominion Bank increased its holdings in Rogers Communications by 8.0% during the first quarter. Toronto Dominion Bank now owns 3,763,897 shares of the Wireless communications provider’s stock valued at $202,891,000 after buying an additional 279,680 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Rogers Communications by 4.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,257,208 shares of the Wireless communications provider’s stock valued at $166,843,000 after buying an additional 129,546 shares during the period. 44.69% of the stock is currently owned by institutional investors and hedge funds.

RCI has been the topic of several research reports. TD Securities lowered shares of Rogers Communications to a “buy” rating in a report on Wednesday, February 6th. ValuEngine raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research raised shares of Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Monday, January 28th. Echelon Wealth Partners reissued a “buy” rating on shares of Rogers Communications in a report on Friday, January 25th. Finally, Desjardins raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $54.68.

RCI traded up $0.08 during trading on Monday, hitting $51.17. The stock had a trading volume of 1,291 shares, compared to its average volume of 451,973. The company has a market cap of $26.30 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 3.01 and a beta of 0.66. Rogers Communications Inc. has a twelve month low of $46.16 and a twelve month high of $55.93. The company has a quick ratio of 0.60, a current ratio of 0.67 and a debt-to-equity ratio of 1.77.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, April 18th. The Wireless communications provider reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.72 billion. Rogers Communications had a net margin of 13.47% and a return on equity of 27.28%. Rogers Communications’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.93 earnings per share. On average, sell-side analysts expect that Rogers Communications Inc. will post 3.39 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 10th will be paid a $0.3753 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.50 annualized dividend and a yield of 2.93%. Rogers Communications’s dividend payout ratio (DPR) is 45.37%.

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Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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