Beutel Goodman & Co Ltd. Sells 1,206,474 Shares of Rogers Communications Inc. (NYSE:RCI)

Beutel Goodman & Co Ltd. reduced its stake in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,715,865 shares of the Wireless communications provider's stock after selling 1,206,474 shares during the period. Rogers Communications comprises approximately 2.0% of Beutel Goodman & Co Ltd.'s holdings, making the stock its 19th biggest position. Beutel Goodman & Co Ltd. owned 2.19% of Rogers Communications worth $359,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of RCI. Pictet Asset Management Holding SA lifted its holdings in Rogers Communications by 19.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 182,728 shares of the Wireless communications provider's stock worth $5,614,000 after acquiring an additional 30,015 shares during the last quarter. Mufg Securities Canada LTD. lifted its holdings in shares of Rogers Communications by 71.3% in the 4th quarter. Mufg Securities Canada LTD. now owns 576,975 shares of the Wireless communications provider's stock worth $17,726,000 after purchasing an additional 240,170 shares during the last quarter. Guardian Partners Inc. bought a new stake in shares of Rogers Communications in the 4th quarter worth approximately $8,554,000. Hillsdale Investment Management Inc. boosted its position in Rogers Communications by 5,526.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 591,944 shares of the Wireless communications provider's stock valued at $18,177,000 after purchasing an additional 581,424 shares during the period. Finally, American Century Companies Inc. grew its stake in Rogers Communications by 9.3% during the 4th quarter. American Century Companies Inc. now owns 78,308 shares of the Wireless communications provider's stock worth $2,407,000 after buying an additional 6,661 shares during the last quarter. Institutional investors own 45.49% of the company's stock.

Rogers Communications Price Performance

Shares of NYSE:RCI traded down $0.17 during trading hours on Wednesday, hitting $25.08. 520,021 shares of the company's stock traded hands, compared to its average volume of 979,562. Rogers Communications Inc. has a 52 week low of $24.76 and a 52 week high of $41.84. The company has a market cap of $13.45 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The company's fifty day simple moving average is $27.88 and its two-hundred day simple moving average is $32.63. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted 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 return on equity of 25.19% and a net margin of 8.40%. As a group, equities analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be given a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 5.53%. The ex-dividend date is Monday, March 10th. Rogers Communications's dividend payout ratio is 59.48%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RCI shares. Bank of America cut shares of Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday. Barclays reissued an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Finally, Morgan Stanley started coverage on shares of Rogers Communications in a report on Monday, December 16th. They issued an "underweight" rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.