Rogers Communications Inc. (NYSE:RCI) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 371.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,053,559 shares of the Wireless communications provider’s stock after purchasing an additional 3,980,525 shares during the period. The Manufacturers Life Insurance Company owned 0.95% of Rogers Communications worth $203,334,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Cromwell Holdings LLC purchased a new stake in shares of Rogers Communications during the 3rd quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. lifted its position in Rogers Communications by 110.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after acquiring an additional 522 shares during the last quarter. Ridgewood Investments LLC acquired a new position in Rogers Communications in the second quarter valued at $37,000. Grove Bank & Trust boosted its stake in Rogers Communications by 41.0% in the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after acquiring an additional 302 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Rogers Communications during the second quarter worth about $55,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Performance

Shares of RCI stock opened at $35.39 on Wednesday. Rogers Communications Inc. has a 52-week low of $34.95 and a 52-week high of $48.19. The stock’s 50-day moving average price is $37.78 and its 200 day moving average price is $38.50. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. The stock has a market capitalization of $18.85 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.09 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities research analysts forecast that Rogers Communications Inc. will post 3.55 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a dividend of $0.3611 per share. The ex-dividend date is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a yield of 4.08%. Rogers Communications’s payout ratio is currently 71.71%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BMO Capital Markets upped their target price on Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. TD Securities increased their price objective on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.75.

Rogers Communications Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.