Envestnet Asset Management Inc. Sells 9,004 Shares of Rogers Communications Inc. (NYSE:RCI)

Envestnet Asset Management Inc. cut its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 22.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,746 shares of the Wireless communications provider’s stock after selling 9,004 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Rogers Communications were worth $945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prudential PLC lifted its holdings in shares of Rogers Communications by 21.6% during the 4th quarter. Prudential PLC now owns 8,734 shares of the Wireless communications provider’s stock worth $268,000 after acquiring an additional 1,552 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Rogers Communications by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,914,155 shares of the Wireless communications provider’s stock worth $89,552,000 after purchasing an additional 17,666 shares during the period. Headlands Technologies LLC grew its stake in shares of Rogers Communications by 274.2% in the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider’s stock worth $163,000 after purchasing an additional 3,888 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Rogers Communications by 31.5% in the fourth quarter. Geode Capital Management LLC now owns 2,149,482 shares of the Wireless communications provider’s stock worth $67,040,000 after purchasing an additional 515,501 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Rogers Communications by 115.3% during the 4th quarter. Franklin Resources Inc. now owns 23,467 shares of the Wireless communications provider’s stock valued at $721,000 after purchasing an additional 12,567 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Performance

Shares of Rogers Communications stock opened at $25.40 on Friday. The business has a fifty day simple moving average of $26.49 and a two-hundred day simple moving average of $30.39. The firm has a market capitalization of $13.62 billion, a P/E ratio of 10.95, a P/E/G ratio of 1.43 and a beta of 0.67. 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 12 month low of $23.18 and a 12 month high of $41.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Wednesday, April 23rd. The Wireless communications provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.02). Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the previous year, the firm earned $0.99 EPS. The company’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be given a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.35. Rogers Communications’s dividend payout ratio (DPR) is 59.66%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RCI. Scotiabank lowered Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st. Canaccord Genuity Group upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a report on Friday, April 4th. Barclays restated an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Rogers Communications presently has an average rating of “Hold” and a consensus price target of $67.00.

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.