Arrowstreet Capital Limited Partnership Sells 2,209,668 Shares of Rogers Communication, Inc. $RCI

Arrowstreet Capital Limited Partnership lessened its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 33.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,343,775 shares of the Wireless communications provider’s stock after selling 2,209,668 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.80% of Rogers Communication worth $167,083,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RCI. Parallel Advisors LLC raised its stake in Rogers Communication by 10.2% in the first quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider’s stock valued at $130,000 after buying an additional 312 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Rogers Communication by 6.0% during the third quarter. Van ECK Associates Corp now owns 5,889 shares of the Wireless communications provider’s stock valued at $203,000 after acquiring an additional 334 shares in the last quarter. Monarch Capital Management Inc. increased its holdings in shares of Rogers Communication by 0.6% during the first quarter. Monarch Capital Management Inc. now owns 59,746 shares of the Wireless communications provider’s stock valued at $2,299,000 after acquiring an additional 360 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Rogers Communication by 107.4% in the 4th quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock valued at $30,000 after purchasing an additional 407 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its position in shares of Rogers Communication by 6.5% in the 4th quarter. Orion Porfolio Solutions LLC now owns 7,873 shares of the Wireless communications provider’s stock valued at $297,000 after purchasing an additional 479 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communication Stock Up 0.3%

Shares of NYSE RCI opened at $32.76 on Friday. The firm has a market cap of $17.70 billion, a price-to-earnings ratio of 3.96, a price-to-earnings-growth ratio of 4.07 and a beta of 0.64. The company’s 50-day simple moving average is $35.59 and its 200-day simple moving average is $36.57. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.54. Rogers Communication, Inc. has a 52-week low of $31.38 and a 52-week high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the previous year, the firm posted $1.14 EPS. Rogers Communication’s revenue was up 7.6% compared to the same quarter last year. Equities analysts predict that Rogers Communication, Inc. will post 3.27 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 8th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.1%. Rogers Communication’s payout ratio is currently 15.30%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RCI shares. Desjardins reissued a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a research note on Thursday. Raymond James Financial began coverage on shares of Rogers Communication in a report on Wednesday, July 15th. They set an “outperform” rating on the stock. Wall Street Zen cut Rogers Communication from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings downgraded Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.00.

Rogers Communication Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.