Scotia Capital Inc. Sells 28,835 Shares of Rogers Communication, Inc. (RCI)

Scotia Capital Inc. cut its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,328,462 shares of the Wireless communications provider’s stock after selling 28,835 shares during the quarter. Rogers Communication comprises about 1.1% of Scotia Capital Inc.’s holdings, making the stock its 22nd largest position. Scotia Capital Inc. owned 0.26% of Rogers Communication worth $62,750,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its position in shares of Rogers Communication by 21.2% in the second quarter. FMR LLC now owns 33,392,433 shares of the Wireless communications provider’s stock valued at $1,577,180,000 after purchasing an additional 5,832,908 shares in the last quarter. TD Asset Management Inc. grew its position in shares of Rogers Communication by 1.0% in the second quarter. TD Asset Management Inc. now owns 14,477,457 shares of the Wireless communications provider’s stock valued at $682,694,000 after purchasing an additional 142,103 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Rogers Communication by 3.3% in the second quarter. Vanguard Group Inc. now owns 8,055,432 shares of the Wireless communications provider’s stock valued at $380,297,000 after purchasing an additional 256,309 shares in the last quarter. Mawer Investment Management Ltd. grew its position in shares of Rogers Communication by 1.3% in the second quarter. Mawer Investment Management Ltd. now owns 6,123,108 shares of the Wireless communications provider’s stock valued at $289,302,000 after purchasing an additional 77,172 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Rogers Communication by 41.3% in the second quarter. CIBC Asset Management Inc now owns 4,493,734 shares of the Wireless communications provider’s stock valued at $212,001,000 after purchasing an additional 1,314,087 shares in the last quarter. Institutional investors own 47.43% of the company’s stock.

Rogers Communication, Inc. (NYSE:RCI) traded up 1.37% during trading on Tuesday, reaching $52.38. The company had a trading volume of 196,005 shares. The firm has a market capitalization of $26.97 billion, a P/E ratio of 31.67 and a beta of 0.86. The firm’s 50-day moving average price is $51.93 and its 200 day moving average price is $48.57. Rogers Communication, Inc. has a one year low of $37.03 and a one year high of $53.55.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Rogers Communication had a return on equity of 28.90% and a net margin of 7.42%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.83 earnings per share. Equities analysts forecast that Rogers Communication, Inc. will post $2.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.92 dividend on an annualized basis and a yield of 3.72%. Rogers Communication’s dividend payout ratio is presently 104.05%.

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Several equities analysts have recently weighed in on RCI shares. Zacks Investment Research cut Rogers Communication from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. BidaskClub upgraded Rogers Communication from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Finally, Morgan Stanley boosted their target price on Rogers Communication from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, August 25th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $57.29.

Rogers Communication Company Profile

Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.

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Institutional Ownership by Quarter for Rogers Communication (NYSE:RCI)

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