Rogers Communications Inc. (RCI) Shares Sold by CIBC World Markets Inc.
CIBC World Markets Inc. lowered its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,451,433 shares of the Wireless communications provider’s stock after selling 238,728 shares during the quarter. Rogers Communications accounts for about 1.0% of CIBC World Markets Inc.’s portfolio, making the stock its 23rd biggest position. CIBC World Markets Inc. owned about 0.86% of Rogers Communications worth $228,848,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cidel Asset Management Inc. raised its position in shares of Rogers Communications by 1.4% during the third quarter. Cidel Asset Management Inc. now owns 1,217,803 shares of the Wireless communications provider’s stock worth $62,586,000 after purchasing an additional 17,199 shares during the period. Beutel Goodman & Co Ltd. raised its position in shares of Rogers Communications by 9.7% during 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. Northern Trust Corp raised its position in shares of Rogers Communications by 7.8% during the second quarter. Northern Trust Corp now owns 440,048 shares of the Wireless communications provider’s stock worth $20,885,000 after purchasing an additional 31,950 shares during the period. Millennium Management LLC raised its position in shares of Rogers Communications by 13.0% during the second quarter. Millennium Management LLC now owns 236,188 shares of the Wireless communications provider’s stock worth $11,209,000 after purchasing an additional 27,200 shares during the period. Finally, Cozad Asset Management Inc. acquired a new stake in shares of Rogers Communications during the second quarter worth about $267,000. 46.10% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on RCI shares. Zacks Investment Research lowered Rogers Communications from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine raised Rogers Communications from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Finally, Desjardins lowered Rogers Communications from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Five research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average target price of $56.00.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Friday, October 19th. The Wireless communications provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.05. Rogers Communications had a return on equity of 29.37% and a net margin of 13.34%. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.91 billion. Research analysts forecast that Rogers Communications Inc. will post 3.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Tuesday, December 11th will be given a $0.3695 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Monday, December 10th. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.37. Rogers Communications’s dividend payout ratio (DPR) is currently 54.24%.
Rogers Communications 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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