Rogers Communications Inc. (NYSE:RCI) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. cut its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 17.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,871,231 shares of the Wireless communications provider’s stock after selling 384,210 shares during the period. Rogers Communications accounts for 2.0% of Intact Investment Management Inc.’s portfolio, making the stock its 11th biggest position. Intact Investment Management Inc.’s holdings in Rogers Communications were worth $57,517,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. National Bank of Canada FI grew its holdings in shares of 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 valued at $250,886,000 after buying an additional 977,924 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Rogers Communications by 371.0% during the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after buying an additional 3,980,525 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Rogers Communications by 90.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock valued at $115,775,000 after buying an additional 1,375,043 shares during the last quarter. AGF Management Ltd. grew its holdings 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 valued at $85,405,000 after buying an additional 117,117 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Rogers Communications by 86.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock valued at $104,965,000 after buying an additional 1,211,482 shares during the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communications Price Performance

Shares of RCI opened at $27.86 on Friday. The business’s 50-day moving average is $28.36 and its two-hundred day moving average is $33.92. The company has a market capitalization of $14.89 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. Rogers Communications Inc. has a fifty-two week low of $26.57 and a fifty-two week high of $43.17.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, topping 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%. Research analysts predict that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be given a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio (DPR) is presently 59.48%.

Wall Street Analyst Weigh In

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

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 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.