United Services Automobile Association decreased its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,491 shares of the Wireless communications provider’s stock after selling 9,408 shares during the quarter. United Services Automobile Association’s holdings in Rogers Communications were worth $7,519,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Galibier Capital Management Ltd. acquired a new stake in shares of Rogers Communications in the fourth quarter valued at $32,580,000. Allred Capital Management LLC acquired a new stake in shares of Rogers Communications in the fourth quarter valued at $39,000. Manning & Napier Group LLC grew its stake in shares of Rogers Communications by 6.2% in the fourth quarter. Manning & Napier Group LLC now owns 42,894 shares of the Wireless communications provider’s stock valued at $2,130,000 after buying an additional 2,515 shares in the last quarter. Hexavest Inc. grew its stake in shares of Rogers Communications by 10.1% in the fourth quarter. Hexavest Inc. now owns 48,883 shares of the Wireless communications provider’s stock valued at $2,431,000 after buying an additional 4,478 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. grew its stake in shares of Rogers Communications by 5.3% in the third quarter. Beutel Goodman & Co Ltd. now owns 21,319,062 shares of the Wireless communications provider’s stock valued at $1,038,529,000 after buying an additional 1,077,989 shares in the last quarter. 43.55% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research cut Rogers Communications from a “hold” rating to a “sell” rating and set a $52.00 price objective for the company. in a research note on Tuesday, September 24th. ValuEngine raised Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. TD Securities raised Rogers Communications to a “buy” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada raised Rogers Communications from a “sector perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Rogers Communications currently has an average rating of “Hold” and a consensus price target of $63.52.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Wednesday, October 23rd. The Wireless communications provider reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.19. Rogers Communications had a return on equity of 25.20% and a net margin of 13.79%. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the previous year, the firm posted $1.21 EPS. Rogers Communications’s revenue for the quarter was down .4% on a year-over-year basis. On average, research analysts anticipate that Rogers Communications Inc. will post 3.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were paid a dividend of $0.378 per share. This represents a $1.51 annualized dividend and a yield of 3.04%. This is a boost from Rogers Communications’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, December 10th. Rogers Communications’s payout ratio is presently 45.07%.
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 Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.
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