The Manufacturers Life Insurance Company Increases Stock Holdings in Rogers Communications Inc. (NYSE:RCI)

The Manufacturers Life Insurance Company lifted its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 371.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,053,559 shares of the Wireless communications provider's stock after purchasing an additional 3,980,525 shares during the period. The Manufacturers Life Insurance Company owned about 0.95% of Rogers Communications worth $203,334,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust lifted its position in shares of Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider's stock valued at $42,000 after buying an additional 302 shares during the last quarter. Creative Planning grew its holdings in Rogers Communications by 2.2% in the third quarter. Creative Planning now owns 22,282 shares of the Wireless communications provider's stock worth $896,000 after purchasing an additional 486 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Rogers Communications by 110.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider's stock valued at $37,000 after purchasing an additional 522 shares during the last quarter. First Affirmative Financial Network boosted its position in shares of Rogers Communications by 11.2% in the 2nd quarter. First Affirmative Financial Network now owns 6,450 shares of the Wireless communications provider's stock worth $239,000 after purchasing an additional 649 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Rogers Communications by 11.1% during the 3rd quarter. Signaturefd LLC now owns 6,627 shares of the Wireless communications provider's stock worth $266,000 after buying an additional 664 shares during the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Rogers Communications Stock Performance

NYSE RCI traded up $0.12 during trading hours on Wednesday, reaching $35.51. The stock had a trading volume of 773,104 shares, compared to its average volume of 766,855. Rogers Communications Inc. has a 52-week low of $34.95 and a 52-week 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. The stock has a market cap of $18.92 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 1.11 and a beta of 0.69. The stock has a fifty day moving average of $37.70 and a 200 day moving average of $38.48.

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

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $0.3611 dividend. The ex-dividend date is Monday, December 9th. This represents a $1.44 annualized dividend and a yield of 4.07%. Rogers Communications's dividend payout ratio is presently 72.20%.

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.