Polar Asset Management Partners Inc. Sells 11,693 Shares of Rogers Communications Inc. (NYSE:RCI)

Polar Asset Management Partners Inc. trimmed its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 48.3% during the third quarter, HoldingsChannel.com reports. The firm owned 12,518 shares of the Wireless communications provider’s stock after selling 11,693 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Rogers Communications were worth $503,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Cromwell Holdings LLC acquired a new position in Rogers Communications during the third quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Rogers Communications by 110.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after buying an additional 522 shares during the period. Ridgewood Investments LLC bought a new stake in Rogers Communications during the second quarter worth $37,000. Grove Bank & Trust lifted its stake in Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after purchasing an additional 302 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Rogers Communications during the second quarter worth $55,000. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Price Performance

Shares of NYSE RCI opened at $35.15 on Friday. Rogers Communications Inc. has a fifty-two week low of $34.83 and a fifty-two week high of $48.19. The stock has a market cap of $18.79 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.11 and a beta of 0.67. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The firm’s 50-day simple moving average is $37.17 and its 200 day simple moving average is $38.33.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.07 by $0.35. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. As a group, research analysts anticipate that Rogers Communications Inc. will post 3.56 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $0.3611 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Monday, December 9th. Rogers Communications’s dividend payout ratio is 72.20%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RCI shares. TD Securities increased their price objective on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, September 19th. BMO Capital Markets increased their price target on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Rogers Communications currently has an average rating of “Moderate Buy” and a consensus target price of $61.75.

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.