Rogers Communication, Inc. $RCI Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 9.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,064,898 shares of the Wireless communications provider’s stock after selling 205,919 shares during the quarter. JPMorgan Chase & Co. owned 0.38% of Rogers Communication worth $71,177,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Bank of Nova Scotia increased its position in shares of Rogers Communication by 3.5% in the second quarter. Bank of Nova Scotia now owns 8,279,443 shares of the Wireless communications provider’s stock valued at $245,489,000 after buying an additional 280,536 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Rogers Communication by 261.2% during the 3rd quarter. CIBC Asset Management Inc now owns 2,102,076 shares of the Wireless communications provider’s stock valued at $72,280,000 after buying an additional 1,520,062 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Rogers Communication by 18.0% during the 3rd quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock valued at $287,340,000 after buying an additional 1,272,065 shares in the last quarter. Citigroup Inc. grew its stake in Rogers Communication by 16.9% in the 3rd quarter. Citigroup Inc. now owns 395,919 shares of the Wireless communications provider’s stock valued at $13,633,000 after acquiring an additional 57,159 shares during the period. Finally, JCIC Asset Management Inc. acquired a new stake in Rogers Communication in the 3rd quarter valued at $4,253,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communication Stock Down 1.1%

NYSE RCI opened at $39.02 on Thursday. The business has a fifty day moving average price of $38.02 and a 200 day moving average price of $37.37. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.57 and a current ratio of 0.61. The company has a market cap of $21.08 billion, a P/E ratio of 4.22, a P/E/G ratio of 5.22 and a beta of 0.74. Rogers Communication, Inc. has a one year low of $23.18 and a one year high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 earnings per share. Research analysts anticipate that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 10th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, March 10th. Rogers Communication’s dividend payout ratio is currently 15.89%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RCI. TD Cowen restated a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Desjardins cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Royal Bank Of Canada restated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, January 13th. Finally, Barclays reaffirmed a “positive” rating and issued a $37.00 price target on shares of Rogers Communication in a research note on Tuesday, January 27th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Rogers Communication has a consensus 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.