TD Asset Management Inc. Has $257.65 Million Stake in Rogers Communications Inc. (NYSE:RCI)

TD Asset Management Inc. cut its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 16.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,385,573 shares of the Wireless communications provider’s stock after selling 1,708,698 shares during the quarter. TD Asset Management Inc.’s holdings in Rogers Communications were worth $257,654,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. National Bank of Canada FI boosted its position in Rogers Communications by 18.6% during the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after purchasing an additional 977,924 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Rogers Communications by 371.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after buying an additional 3,980,525 shares during the last quarter. AGF Management Ltd. boosted its holdings in shares of Rogers Communications by 4.4% during the 4th quarter. AGF Management Ltd. now owns 2,779,212 shares of the Wireless communications provider’s stock worth $85,405,000 after buying an additional 117,117 shares during the period. FMR LLC grew its stake 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 buying an additional 68,759 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Rogers Communications by 0.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,728,836 shares of the Wireless communications provider’s stock valued at $69,516,000 after acquiring an additional 15,609 shares during the period. Institutional investors own 45.49% of the company’s stock.

Wall Street Analyst Weigh In

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

Rogers Communications Stock Down 0.6 %

NYSE RCI opened at $27.12 on Tuesday. 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 cap of $14.54 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.43 and a beta of 0.67. The company has a 50 day moving average of $28.03 and a 200-day moving average of $33.20. Rogers Communications Inc. has a 1-year low of $26.57 and a 1-year high of $41.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share 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%. On average, equities research analysts expect that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be paid a dividend of $0.347 per share. The ex-dividend date is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a yield of 5.12%. Rogers Communications’s payout ratio is 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.