TD Asset Management Inc Sells 194,332 Shares of Rogers Communications Inc. (NYSE:RCI)

TD Asset Management Inc lessened its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 1.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,343,738 shares of the Wireless communications provider’s stock after selling 194,332 shares during the period. TD Asset Management Inc owned 2.14% of Rogers Communications worth $419,478,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RCI. Gold Investment Management Ltd. boosted its position in Rogers Communications by 1.3% in the 1st quarter. Gold Investment Management Ltd. now owns 21,085 shares of the Wireless communications provider’s stock valued at $864,000 after buying an additional 270 shares during the last quarter. Gulf International Bank UK Ltd lifted its stake in shares of Rogers Communications by 13.4% during the first quarter. Gulf International Bank UK Ltd now owns 2,720 shares of the Wireless communications provider’s stock valued at $111,000 after acquiring an additional 322 shares during the period. Assetmark Inc. boosted its holdings in Rogers Communications by 1.8% in the fourth quarter. Assetmark Inc. now owns 18,891 shares of the Wireless communications provider’s stock valued at $884,000 after acquiring an additional 331 shares during the last quarter. First Affirmative Financial Network boosted its holdings in Rogers Communications by 11.2% in the second quarter. First Affirmative Financial Network now owns 6,450 shares of the Wireless communications provider’s stock valued at $239,000 after acquiring an additional 649 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Rogers Communications by 106.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,445 shares of the Wireless communications provider’s stock worth $68,000 after purchasing an additional 745 shares during the period. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Stock Up 0.6 %

NYSE:RCI opened at $40.61 on Thursday. Rogers Communications Inc. has a twelve month low of $35.55 and a twelve month high of $48.19. The firm has a market capitalization of $21.52 billion, a price-to-earnings ratio of 50.76, a price-to-earnings-growth ratio of 1.06 and a beta of 0.68. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 3.58. The stock’s 50 day moving average price is $38.57 and its two-hundred day moving average price is $39.73.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.33. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the business posted $0.76 EPS. Rogers Communications’s revenue was up .9% on a year-over-year basis. Equities research analysts expect that Rogers Communications Inc. will post 3.59 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 Thursday, October 3rd. Stockholders of record on Monday, September 9th will be given a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Monday, September 9th. Rogers Communications’s payout ratio is 180.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RCI shares. Canaccord Genuity Group lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Canaccord Genuity Group reissued a “hold” rating and issued a $57.00 price target (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. Finally, StockNews.com upgraded Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.50.

About Rogers Communications

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.