M&T Bank Corp lowered its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 29.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,360 shares of the Wireless communications provider’s stock after selling 25,674 shares during the period. M&T Bank Corp’s holdings in Rogers Communications were worth $2,713,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its position in Rogers Communications by 12.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,945,080 shares of the Wireless communications provider’s stock worth $209,430,000 after buying an additional 542,061 shares during the last quarter. Jane Street Group LLC increased its position in Rogers Communications by 1,533.7% in the third quarter. Jane Street Group LLC now owns 123,216 shares of the Wireless communications provider’s stock worth $5,227,000 after buying an additional 115,674 shares during the last quarter. Ontario Teachers Pension Plan Board increased its position in Rogers Communications by 10.4% in the third quarter. Ontario Teachers Pension Plan Board now owns 175,140 shares of the Wireless communications provider’s stock worth $7,417,000 after buying an additional 16,478 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Rogers Communications during the third quarter worth approximately $141,935,000. Finally, UBS Group AG increased its position in Rogers Communications by 19.3% in the third quarter. UBS Group AG now owns 213,674 shares of the Wireless communications provider’s stock worth $9,065,000 after buying an additional 34,612 shares during the last quarter. 50.95% of the stock is owned by institutional investors.
Shares of Rogers Communications Inc. (NYSE:RCI) traded up 0.37% during trading on Friday, reaching $45.80. 281,069 shares of the company traded hands. Rogers Communications Inc. has a 12 month low of $37.03 and a 12 month high of $47.42. The company has a 50-day moving average of $45.48 and a 200-day moving average of $41.83. The stock has a market capitalization of $23.58 billion, a PE ratio of 35.73 and a beta of 0.96.
Rogers Communications (NYSE:RCI) last posted its quarterly earnings data on Tuesday, April 18th. The Wireless communications provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. Rogers Communications had a net margin of 6.26% and a return on equity of 25.46%. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter in the prior year, the business posted $0.51 earnings per share. Rogers Communications’s revenue was up 2.9% compared to the same quarter last year. Analysts forecast that Rogers Communications Inc. will post $2.44 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 4th. Investors of record on Monday, June 12th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, June 8th. This represents a $1.92 annualized dividend and a yield of 4.21%. Rogers Communications’s dividend payout ratio is 116.26%.
Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, April 20th. Canaccord Genuity set a $66.00 price target on shares of Rogers Communications and gave the company a “buy” rating in a report on Wednesday, April 19th. Finally, CIBC downgraded shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, April 5th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $54.43.
About Rogers Communications
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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