859,362 Rogers Communication, Inc. $RCI Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lowered its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 10.5% during the third quarter, HoldingsChannel reports. The fund owned 7,343,372 shares of the Wireless communications provider’s stock after selling 859,362 shares during the quarter. Rogers Communication comprises about 1.8% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 24th largest holding. Beutel Goodman & Co Ltd.’s holdings in Rogers Communication were worth $226,650,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Gryphon Financial Partners LLC raised its position in Rogers Communication by 4.3% in the third quarter. Gryphon Financial Partners LLC now owns 14,064 shares of the Wireless communications provider’s stock valued at $433,000 after purchasing an additional 581 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in shares of Rogers Communication during the third quarter worth about $418,000. Ethic Inc. grew its holdings in shares of Rogers Communication by 6.1% during the third quarter. Ethic Inc. now owns 14,846 shares of the Wireless communications provider’s stock worth $457,000 after purchasing an additional 853 shares during the last quarter. Cidel Asset Management Inc. grew its holdings in shares of Rogers Communication by 5.2% during the third quarter. Cidel Asset Management Inc. now owns 17,558 shares of the Wireless communications provider’s stock worth $542,000 after purchasing an additional 865 shares during the last quarter. Finally, MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd increased its stake in shares of Rogers Communication by 20.6% in the third quarter. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd now owns 89,370 shares of the Wireless communications provider’s stock valued at $2,753,000 after buying an additional 15,253 shares during the period. Institutional investors own 45.49% of the company’s stock.

Rogers Communication Stock Up 0.2%

Shares of RCI opened at $33.40 on Tuesday. The company has a market capitalization of $18.04 billion, a PE ratio of 9.69, a PEG ratio of 3.96 and a beta of 0.66. Rogers Communication, Inc. has a 12 month low of $29.25 and a 12 month high of $41.14. The stock’s 50-day moving average price is $33.21 and its two-hundred day moving average price is $35.61. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 1.65.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Friday, October 23rd. The Wireless communications provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.08. The company had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Rogers Communication had a return on equity of 11.51% and a net margin of 4.11%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.37 earnings per share. On average, analysts anticipate that Rogers Communication, Inc. will post 3.56 EPS for the current year.

Rogers Communication Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 8th will be given a dividend of C$0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, December 8th. Rogers Communication’s dividend payout ratio is currently 120.00%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Desjardins upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research report on Monday, September 14th. Scotiabank reissued an “outperform” rating on shares of Rogers Communication in a report on Tuesday, October 20th. Raymond James Financial started coverage on shares of Rogers Communication in a research report on Wednesday, July 15th. They issued an “outperform” rating for the company. Weiss Ratings raised shares of Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 26th. Finally, Wall Street Zen raised shares of Rogers Communication from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.00.

Rogers Communication Profile

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto. Founded by Ted Rogers in 1960, the company serves consumers and businesses across Canada.

Its telecommunications operations provide wireless voice and data services, internet access, cable television and home phone services. Rogers offers wireless services through brands including Rogers, Fido and Chatr.

The company also operates media businesses, including Sportsnet, Citytv, OMNI Television and radio stations.