Aviva PLC Sells 6,581 Shares of Rogers Communications Inc. (RCI)

Aviva PLC lowered its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 3.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 173,785 shares of the Wireless communications provider’s stock after selling 6,581 shares during the period. Aviva PLC’s holdings in Rogers Communications were worth $8,894,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RCI. Quantbot Technologies LP acquired a new position in Rogers Communications during the third quarter worth $134,000. Campbell & CO Investment Adviser LLC acquired a new position in Rogers Communications during the third quarter worth $201,000. Cozad Asset Management Inc. acquired a new position in Rogers Communications during the second quarter worth $267,000. Raymond James Financial Services Advisors Inc. acquired a new position in Rogers Communications during the second quarter worth $287,000. Finally, Gideon Capital Advisors Inc. purchased a new stake in Rogers Communications in the third quarter valued at $305,000. 44.80% of the stock is currently owned by institutional investors.

NYSE:RCI opened at $53.76 on Tuesday. Rogers Communications Inc. has a 52 week low of $43.11 and a 52 week high of $53.92. The company has a current ratio of 0.72, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $27.47 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 3.30 and a beta of 0.74.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Friday, October 19th. The Wireless communications provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.05. Rogers Communications had a return on equity of 29.37% and a net margin of 13.34%. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.91 billion. On average, research analysts predict that Rogers Communications Inc. will post 3.23 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 11th will be given a $0.3695 dividend. The ex-dividend date is Monday, December 10th. This represents a $1.48 dividend on an annualized basis and a yield of 2.75%. This is an increase from Rogers Communications’s previous quarterly dividend of $0.37. Rogers Communications’s payout ratio is currently 54.24%.

A number of equities research analysts have commented on RCI shares. Zacks Investment Research upgraded Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Wednesday, September 19th. Desjardins downgraded Rogers Communications from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Finally, Edward Jones downgraded Rogers Communications from a “buy” rating to a “hold” rating and set a $52.67 target price on the stock. in a research report on Thursday, November 29th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $54.89.

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Rogers Communications Profile

Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.

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

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