TD Asset Management Inc. Sells 1,708,698 Shares of Rogers Communications Inc. (NYSE:RCI)

TD Asset Management Inc. trimmed its position in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,385,573 shares of the Wireless communications provider's stock after selling 1,708,698 shares during the quarter. TD Asset Management Inc. owned approximately 1.57% of Rogers Communications worth $257,654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Natixis Advisors LLC lifted its position in Rogers Communications by 16.6% during the 3rd quarter. Natixis Advisors LLC now owns 24,948 shares of the Wireless communications provider's stock worth $1,003,000 after buying an additional 3,547 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Rogers Communications by 106.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider's stock worth $5,383,000 after acquiring an additional 68,971 shares during the last quarter. Citigroup Inc. grew its stake in shares of Rogers Communications by 7.1% during the third quarter. Citigroup Inc. now owns 340,684 shares of the Wireless communications provider's stock valued at $13,714,000 after purchasing an additional 22,660 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Rogers Communications by 371.0% during the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider's stock valued at $203,334,000 after purchasing an additional 3,980,525 shares during the last quarter. Finally, FMR LLC raised its position in Rogers Communications by 2.8% in the 3rd quarter. FMR LLC now owns 2,496,298 shares of the Wireless communications provider's stock worth $100,372,000 after purchasing an additional 68,759 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on RCI. Barclays reiterated an "equal weight" rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Morgan Stanley started coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an "underweight" rating for the company. Finally, Bank of America downgraded Rogers Communications from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Rogers Communications presently has a consensus rating of "Hold" and an average price target of $61.75.

Rogers Communications Stock Performance

Shares of NYSE RCI traded down $0.49 during midday trading on Friday, hitting $27.28. 840,237 shares of the company's stock were exchanged, compared to its average volume of 967,939. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. The firm has a market capitalization of $14.62 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a 12 month low of $26.57 and a 12 month high of $41.84. The company's 50 day moving average price is $27.97 and its 200 day moving average price is $32.88.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts predict that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be given a $0.347 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.09%. Rogers Communications's payout ratio is 59.48%.

About Rogers Communications

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.