Aviva PLC Sells 6,379 Shares of Rogers Communications Inc. (NYSE:RCI)

Aviva PLC reduced its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,928 shares of the Wireless communications provider’s stock after selling 6,379 shares during the period. Aviva PLC’s holdings in Rogers Communications were worth $6,226,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in Rogers Communications by 106.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider’s stock valued at $5,383,000 after purchasing an additional 68,971 shares during the last quarter. Avanza Fonder AB bought a new position in Rogers Communications during the 4th quarter valued at $718,000. Northwest & Ethical Investments L.P. lifted its stake in Rogers Communications by 180.9% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 344,131 shares of the Wireless communications provider’s stock valued at $10,560,000 after acquiring an additional 221,628 shares in the last quarter. Louisbourg Investments Inc. boosted its holdings in Rogers Communications by 18.9% during the 4th quarter. Louisbourg Investments Inc. now owns 246,470 shares of the Wireless communications provider’s stock worth $7,573,000 after acquiring an additional 39,156 shares during the last quarter. Finally, QV Investors Inc. bought a new position in shares of Rogers Communications during the fourth quarter valued at about $12,650,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Stock Down 3.2 %

Rogers Communications stock opened at $23.94 on Wednesday. Rogers Communications Inc. has a 12 month low of $23.73 and a 12 month high of $41.84. The stock has a fifty day simple moving average of $27.44 and a two-hundred day simple moving average of $32.04. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The firm has a market cap of $12.83 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.43 and a beta of 0.67.

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

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th were issued a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a yield of 5.80%. The ex-dividend date was Monday, March 10th. Rogers Communications’s dividend payout ratio is presently 59.48%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Scotiabank lowered shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st. Canaccord Genuity Group raised Rogers Communications from a “hold” rating to a “buy” rating in a report on Friday, April 4th. Morgan Stanley initiated coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating for the company. Finally, Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rogers Communications currently has an average rating of “Hold” and an average price target of $61.75.

Rogers Communications Company 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.