TD Private Client Wealth LLC Trims Stake in Rogers Communications Inc. (NYSE:RCI)

TD Private Client Wealth LLC lessened its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 62.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,413 shares of the Wireless communications provider’s stock after selling 2,392 shares during the period. TD Private Client Wealth LLC’s holdings in Rogers Communications were worth $43,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RCI. Northwest & Ethical Investments L.P. lifted its position in Rogers Communications by 180.9% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 344,131 shares of the Wireless communications provider’s stock valued at $10,560,000 after buying an additional 221,628 shares in the last quarter. Signaturefd LLC increased its holdings in Rogers Communications by 58.5% in the 4th quarter. Signaturefd LLC now owns 10,503 shares of the Wireless communications provider’s stock valued at $323,000 after purchasing an additional 3,876 shares in the last quarter. Brandes Investment Partners LP raised its position in Rogers Communications by 24.1% in the fourth quarter. Brandes Investment Partners LP now owns 60,452 shares of the Wireless communications provider’s stock valued at $1,858,000 after purchasing an additional 11,734 shares during the period. AGF Management Ltd. lifted its stake in shares of Rogers Communications by 4.4% during the fourth quarter. AGF Management Ltd. now owns 2,779,212 shares of the Wireless communications provider’s stock worth $85,405,000 after purchasing an additional 117,117 shares in the last quarter. Finally, Amundi boosted its position in shares of Rogers Communications by 27.4% in the fourth quarter. Amundi now owns 582,791 shares of the Wireless communications provider’s stock worth $17,793,000 after buying an additional 125,183 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on RCI shares. Bank of America lowered Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Morgan Stanley started coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. Finally, Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $61.75.

Rogers Communications Price Performance

Shares of RCI stock opened at $27.43 on Wednesday. The firm has a fifty day moving average of $28.01 and a two-hundred day moving average of $33.10. The firm has a market cap of $14.71 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a 1-year low of $26.57 and a 1-year 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.

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

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be issued a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio is presently 59.48%.

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.