CANADA LIFE ASSURANCE Co Sells 57,481 Shares of Rogers Communications Inc. (NYSE:RCI)

CANADA LIFE ASSURANCE Co reduced its position in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 12.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 397,727 shares of the Wireless communications provider's stock after selling 57,481 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.07% of Rogers Communications worth $12,167,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its stake in Rogers Communications by 123.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock valued at $206,565,000 after purchasing an additional 3,717,487 shares during the period. FIL Ltd grew its holdings in shares of Rogers Communications by 7.2% during the 4th quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock valued at $1,028,336,000 after acquiring an additional 2,244,240 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Rogers Communications by 20.6% during the fourth quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider's stock worth $237,784,000 after acquiring an additional 1,320,200 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in Rogers Communications by 5,526.8% during the fourth 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 last quarter. Finally, Scotia Capital Inc. grew its stake in Rogers Communications by 18.3% in the fourth quarter. Scotia Capital Inc. now owns 3,697,645 shares of the Wireless communications provider's stock valued at $113,217,000 after purchasing an additional 572,270 shares in the last quarter. Institutional investors own 45.49% of the company's stock.

Wall Street Analysts Forecast Growth

RCI has been the subject of several research reports. Scotiabank lowered Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. Canaccord Genuity Group upgraded shares of Rogers Communications from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Barclays reaffirmed an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Finally, Bank of America cut Rogers Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $67.00.

Rogers Communications Stock Performance

NYSE:RCI traded down $0.09 during trading hours on Friday, hitting $25.15. 1,312,898 shares of the company traded hands, compared to its average volume of 1,015,969. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. Rogers Communications Inc. has a twelve month low of $23.18 and a twelve month high of $41.84. The firm has a 50-day moving average of $26.74 and a 200 day moving average of $30.82. The stock has a market capitalization of $13.48 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $4.96 billion. On average, analysts forecast that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be paid a dividend of $0.3611 per share. The ex-dividend date is Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a yield of 5.74%. This is an increase from Rogers Communications's previous quarterly dividend of $0.35. Rogers Communications's payout ratio is currently 59.48%.

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.