Rogers Communications Inc. (RCI) Position Lessened by Janus Henderson Group PLC

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Janus Henderson Group PLC lessened its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 37.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 337,629 shares of the Wireless communications provider’s stock after selling 199,837 shares during the quarter. Janus Henderson Group PLC’s holdings in Rogers Communications were worth $17,354,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Great West Life Assurance Co. Can raised its position in Rogers Communications by 0.6% during the second quarter. Great West Life Assurance Co. Can now owns 5,578,706 shares of the Wireless communications provider’s stock valued at $265,845,000 after purchasing an additional 33,314 shares in the last quarter. Letko Brosseau & Associates Inc. raised its position in Rogers Communications by 0.4% during the second quarter. Letko Brosseau & Associates Inc. now owns 4,438,612 shares of the Wireless communications provider’s stock valued at $210,686,000 after purchasing an additional 16,851 shares in the last quarter. Toronto Dominion Bank raised its position in Rogers Communications by 22.5% during the third quarter. Toronto Dominion Bank now owns 4,291,153 shares of the Wireless communications provider’s stock valued at $221,016,000 after purchasing an additional 787,068 shares in the last quarter. Bank of Nova Scotia raised its position in Rogers Communications by 6.2% during the second quarter. Bank of Nova Scotia now owns 2,816,880 shares of the Wireless communications provider’s stock valued at $133,849,000 after purchasing an additional 164,643 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in Rogers Communications by 26.3% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,312,555 shares of the Wireless communications provider’s stock valued at $144,396,000 after purchasing an additional 482,000 shares in the last quarter. Institutional investors own 44.80% of the company’s stock.

A number of research firms have weighed in on RCI. Zacks Investment Research upgraded Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Friday, November 30th. Edward Jones downgraded Rogers Communications from a “buy” rating to a “hold” rating and set a $52.67 price target on the stock. in a research report on Thursday, November 29th. Finally, Desjardins downgraded Rogers Communications from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $54.89.

Shares of NYSE:RCI opened at $53.53 on Friday. Rogers Communications Inc. has a 12-month low of $43.11 and a 12-month high of $54.83. The stock has a market cap of $27.60 billion, a PE ratio of 16.97, a P/E/G ratio of 3.32 and a beta of 0.74. The company has a current ratio of 0.72, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Friday, October 19th. The Wireless communications provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.05. Rogers Communications had a return on equity of 29.37% and a net margin of 13.34%. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.91 billion. As a group, analysts anticipate that Rogers Communications Inc. will post 3.23 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Tuesday, December 11th will be paid a dividend of $0.3695 per share. This is a boost from Rogers Communications’s previous quarterly dividend of $0.37. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Monday, December 10th. Rogers Communications’s dividend payout ratio (DPR) is 54.24%.

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Rogers Communications Profile

Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.

Further Reading: What is a closed-end mutual fund (CEF)?

Want to see what other hedge funds are holding RCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B).

Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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