CIBC Asset Management Inc Lowers Stock Position in Rogers Communications Inc. (NYSE:RCI)

CIBC Asset Management Inc reduced its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 39.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,021,139 shares of the Wireless communications provider's stock after selling 651,971 shares during the quarter. CIBC Asset Management Inc owned about 0.19% of Rogers Communications worth $31,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of RCI. Creative Planning grew its position in Rogers Communications by 2.2% during the third quarter. Creative Planning now owns 22,282 shares of the Wireless communications provider's stock valued at $896,000 after acquiring an additional 486 shares during the last quarter. Vest Financial LLC grew its position in Rogers Communications by 26.2% during the third quarter. Vest Financial LLC now owns 15,463 shares of the Wireless communications provider's stock valued at $622,000 after acquiring an additional 3,213 shares during the last quarter. Signaturefd LLC grew its position in Rogers Communications by 11.1% during the third quarter. Signaturefd LLC now owns 6,627 shares of the Wireless communications provider's stock valued at $266,000 after acquiring an additional 664 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its position in Rogers Communications by 1.7% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 244,353 shares of the Wireless communications provider's stock valued at $9,742,000 after acquiring an additional 3,971 shares during the last quarter. Finally, Cromwell Holdings LLC bought a new position in Rogers Communications during the third quarter valued at approximately $31,000. 45.49% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

RCI has been the topic of several recent analyst reports. Barclays restated an "equal weight" rating on shares of Rogers Communications in a report on Tuesday, January 21st. Bank of America cut shares of Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Finally, Morgan Stanley initiated coverage on shares of Rogers Communications in a report on Monday, December 16th. They issued an "underweight" rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $61.75.

Rogers Communications Trading Up 0.5 %

RCI stock traded up $0.15 on Friday, reaching $28.19. The company's stock had a trading volume of 964,511 shares, compared to its average volume of 1,127,512. The business has a fifty day simple moving average of $29.12 and a two-hundred day simple moving average of $35.07. Rogers Communications Inc. has a 12-month low of $26.57 and a 12-month high of $45.93. The firm has a market cap of $15.06 billion, a PE ratio of 12.15, a PEG ratio of 1.43 and a beta of 0.68. 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 announced its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 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%. As a group, research analysts forecast that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be paid a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications's payout ratio is 60.78%.

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.