TD Private Client Wealth LLC Sells 2,392 Shares of Rogers Communications Inc. (NYSE:RCI)

TD Private Client Wealth LLC reduced its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 62.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,413 shares of the Wireless communications provider’s stock after selling 2,392 shares during the quarter. TD Private Client Wealth LLC’s holdings in Rogers Communications were worth $43,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RCI. Lindbrook Capital LLC boosted its holdings in shares of Rogers Communications by 95.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock valued at $47,000 after purchasing an additional 744 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Rogers Communications by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock valued at $55,000 after purchasing an additional 1,052 shares during the period. V Square Quantitative Management LLC increased its position in shares of Rogers Communications by 19.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock worth $178,000 after acquiring an additional 930 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Rogers Communications during the 3rd quarter valued at $206,000. Finally, Tidal Investments LLC purchased a new stake in Rogers Communications in the third quarter worth about $248,000. 45.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RCI has been the subject of a number of recent research reports. Barclays reiterated an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Morgan Stanley started coverage on shares of Rogers Communications in a report on Monday, December 16th. They issued an “underweight” rating on the stock. Finally, Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.75.

Rogers Communications Stock Up 1.3 %

Shares of NYSE:RCI opened at $27.43 on Wednesday. Rogers Communications Inc. has a 1 year low of $26.57 and a 1 year high of $41.84. The firm’s 50-day moving average is $28.01 and its two-hundred day moving average is $33.10. The firm has a market capitalization of $14.71 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. Analysts predict that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be paid a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio is currently 59.48%.

About Rogers Communications

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.