UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Position in Rogers Communications Inc. (NYSE:RCI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 10.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 696,256 shares of the Wireless communications provider's stock after selling 84,072 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.13% of Rogers Communications worth $27,996,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in Rogers Communications by 371.0% during the 3rd 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 in the last quarter. Toronto Dominion Bank raised its holdings in Rogers Communications by 53.9% in 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 boosted its stake 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 valued at $115,775,000 after purchasing an additional 1,375,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of 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 in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of 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 worth $390,738,000 after purchasing an additional 974,937 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communications Stock Performance

NYSE:RCI traded up $0.13 on Thursday, hitting $36.16. The stock had a trading volume of 160,242 shares, compared to its average volume of 773,791. Rogers Communications Inc. has a 52-week low of $34.95 and a 52-week high of $48.19. The stock has a market cap of $19.33 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 1.11 and a beta of 0.67. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. The business's 50-day simple moving average is $37.25 and its two-hundred day simple moving average is $38.34.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the previous year, the business posted $0.95 earnings per share. The firm's quarterly revenue was up .7% compared to the same quarter last year. As a group, research 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 declared 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. This represents a $1.44 annualized dividend and a yield of 3.99%. The ex-dividend date is Monday, December 9th. Rogers Communications's dividend payout ratio is presently 72.20%.

Analysts Set New Price Targets

Several research firms recently commented on RCI. TD Securities increased their price objective on Rogers Communications from $73.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. BMO Capital Markets lifted their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Rogers Communications currently has an average 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.