Healthcare of Ontario Pension Plan Trust Fund Sells 180,000 Shares of Rogers Communications Inc. (NYSE:RCI)

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 69.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,230 shares of the Wireless communications provider's stock after selling 180,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Rogers Communications were worth $3,186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in shares of Rogers Communications by 371.0% in the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider's stock worth $203,334,000 after buying an additional 3,980,525 shares during the period. Toronto Dominion Bank grew its position in Rogers Communications by 53.9% during the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider's stock worth $233,099,000 after acquiring an additional 2,206,690 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Rogers Communications by 90.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider's stock worth $115,775,000 after acquiring an additional 1,375,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Rogers Communications by 86.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider's stock worth $104,965,000 after purchasing an additional 1,211,482 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Rogers Communications by 10.2% in the second quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider's stock valued at $390,738,000 after purchasing an additional 974,937 shares during the last quarter. 45.49% of the stock is owned by institutional investors.

Rogers Communications Trading Up 0.6 %

RCI stock traded up $0.23 on Friday, reaching $35.74. The company's stock had a trading volume of 299,936 shares, compared to its average volume of 1,127,940. The firm has a market cap of $19.10 billion, a PE ratio of 17.43, a PEG ratio of 1.10 and a beta of 0.69. The business has a fifty day simple moving average of $37.52 and a two-hundred day simple moving average of $38.43. Rogers Communications Inc. has a 12-month low of $34.95 and a 12-month high of $48.19. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its 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 firm had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $3.79 billion. During the same period last year, the company posted $0.95 EPS. The company's quarterly revenue was up .7% compared to the same quarter last year. As a group, research analysts forecast that Rogers Communications Inc. will post 3.56 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a dividend of $0.3611 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.04%. Rogers Communications's dividend payout ratio (DPR) is 72.20%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, September 19th. TD Securities boosted their price objective on shares of Rogers Communications from $73.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.