Polar Asset Management Partners Inc. Sells 220,000 Shares of Rogers Communication, Inc. $RCI

Polar Asset Management Partners Inc. decreased its position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 81.5% during the first quarter, Holdings Channel.com reports. The fund owned 50,000 shares of the Wireless communications provider’s stock after selling 220,000 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Rogers Communication were worth $1,920,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. TD Asset Management Inc increased its holdings in Rogers Communication by 2.3% during the 4th quarter. TD Asset Management Inc now owns 8,540,114 shares of the Wireless communications provider’s stock valued at $322,789,000 after purchasing an additional 195,189 shares during the period. Fiera Capital Corp lifted its holdings in Rogers Communication by 8,881.3% in the 4th quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock worth $271,751,000 after buying an additional 7,116,744 shares during the period. Bank of Nova Scotia grew its position in shares of Rogers Communication by 7.6% in the 1st quarter. Bank of Nova Scotia now owns 6,280,164 shares of the Wireless communications provider’s stock worth $241,467,000 after buying an additional 445,964 shares during the last quarter. Morgan Stanley grew its position in shares of Rogers Communication by 138.0% in the 4th quarter. Morgan Stanley now owns 5,080,341 shares of the Wireless communications provider’s stock worth $191,681,000 after buying an additional 2,945,885 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Rogers Communication by 67.8% during the third quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock valued at $167,765,000 after buying an additional 1,966,476 shares during the period. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Price Performance

Shares of RCI stock opened at $32.81 on Tuesday. The stock has a market cap of $17.73 billion, a price-to-earnings ratio of 3.96, a PEG ratio of 4.08 and a beta of 0.64. The business’s fifty day moving average is $35.54 and its 200 day moving average is $36.53. Rogers Communication, Inc. has a twelve month low of $31.38 and a twelve month high of $41.14. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.54.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts expect that Rogers Communication, Inc. will post 3.27 EPS for the current fiscal year.

Rogers Communication Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 8th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Tuesday, September 8th. Rogers Communication’s dividend payout ratio (DPR) is presently 17.51%.

Analysts Set New Price Targets

RCI has been the subject of a number of recent analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, July 7th. TD Securities reissued a “buy” rating on shares of Rogers Communication in a research report on Thursday. Barclays decreased their price objective on shares of Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, July 16th. Wall Street Zen cut shares of Rogers Communication from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Desjardins reiterated a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Rogers Communication presently has an average rating of “Hold” and a consensus price target of $36.00.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.