Rogers Communications Inc. (NYSE:RCI) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 106.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,760 shares of the Wireless communications provider's stock after purchasing an additional 68,971 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in Rogers Communications were worth $5,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in Rogers Communications by 90.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider's stock worth $115,775,000 after purchasing an additional 1,375,043 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in shares of Rogers Communications by 3.1% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,163,098 shares of the Wireless communications provider's stock worth $46,761,000 after purchasing an additional 34,932 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in shares of Rogers Communications in the third quarter worth approximately $716,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Rogers Communications by 86.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider's stock valued at $104,965,000 after buying an additional 1,211,482 shares during the period. Finally, PCJ Investment Counsel Ltd. increased its holdings in Rogers Communications by 2.9% during the third quarter. PCJ Investment Counsel Ltd. now owns 247,530 shares of the Wireless communications provider's stock valued at $9,952,000 after buying an additional 7,050 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communications Price Performance

RCI stock traded down $0.55 during midday trading on Friday, hitting $33.16. The company's stock had a trading volume of 311,346 shares, compared to its average volume of 797,700. The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. Rogers Communications Inc. has a 12 month low of $33.10 and a 12 month high of $48.19. The company has a 50 day moving average of $36.66 and a two-hundred day moving average of $38.16.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The business had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $3.79 billion. During the same quarter in the previous year, the company earned $0.95 EPS. The business's quarterly revenue was up .7% compared to the same quarter last year. On average, analysts expect that Rogers Communications Inc. will post 3.56 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Monday, December 9th. Rogers Communications's payout ratio is currently 72.20%.

Wall Street Analyst Weigh In

RCI has been the topic of a number of recent research reports. BMO Capital Markets raised their target price on Rogers Communications from $67.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, September 19th. TD Securities raised their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $61.75.

Rogers Communications 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.