Advisors Asset Management Inc. Trims Position in Rogers Communications Inc. Class B (RCI)

Advisors Asset Management Inc. reduced its position in Rogers Communications Inc. Class B (NYSE:RCI) (TSE:RCI.B) by 95.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,525 shares of the Wireless communications provider’s stock after selling 50,214 shares during the quarter. Advisors Asset Management Inc.’s holdings in Rogers Communications Inc. Class B were worth $2,521,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Beutel Goodman & Co Ltd. lifted its position in Rogers Communications Inc. Class B by 9.7% in the second quarter. Beutel Goodman & Co Ltd. now owns 21,014,591 shares of the Wireless communications provider’s stock worth $998,281,000 after purchasing an additional 1,854,605 shares during the period. The Manufacturers Life Insurance Company raised its stake in Rogers Communications Inc. Class B by 24.8% during the first quarter. The Manufacturers Life Insurance Company now owns 5,739,271 shares of the Wireless communications provider’s stock worth $256,431,000 after acquiring an additional 1,142,286 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Rogers Communications Inc. Class B by 0.6% during the second quarter. Great West Life Assurance Co. Can now owns 5,578,706 shares of the Wireless communications provider’s stock worth $265,845,000 after acquiring an additional 33,314 shares in the last quarter. CIBC World Markets Inc. raised its stake in Rogers Communications Inc. Class B by 4.4% during the first quarter. CIBC World Markets Inc. now owns 5,155,934 shares of the Wireless communications provider’s stock worth $230,367,000 after acquiring an additional 216,043 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. raised its stake in Rogers Communications Inc. Class B by 0.4% during the second quarter. Letko Brosseau & Associates Inc. now owns 4,438,612 shares of the Wireless communications provider’s stock worth $210,686,000 after acquiring an additional 16,851 shares in the last quarter. 46.04% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Inc. Class B stock opened at $51.63 on Friday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.67 and a quick ratio of 0.60. Rogers Communications Inc. Class B has a 52-week low of $43.11 and a 52-week high of $54.95. The firm has a market cap of $26.24 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 3.22 and a beta of 0.86.

Rogers Communications Inc. Class B (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, July 19th. The Wireless communications provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.28. Rogers Communications Inc. Class B had a return on equity of 29.52% and a net margin of 12.66%. The firm had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the company posted $0.96 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. equities analysts anticipate that Rogers Communications Inc. Class B will post 3.17 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Friday, September 14th will be paid a dividend of $0.369 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.48 annualized dividend and a yield of 2.86%. Rogers Communications Inc. Class B’s dividend payout ratio is currently 54.24%.

Several research analysts have issued reports on RCI shares. Zacks Investment Research upgraded Rogers Communications Inc. Class B from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Wednesday, September 19th. Barclays dropped their price objective on Rogers Communications Inc. Class B from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, July 20th. Finally, ValuEngine upgraded Rogers Communications Inc. Class B from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Rogers Communications Inc. Class B has a consensus rating of “Hold” and an average target price of $61.00.

Rogers Communications Inc. Class B Company 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 Inc. Class B (NYSE:RCI)

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