CIBC Asset Management Inc Trims Holdings in Rogers Communications Inc. (NYSE:RCI)

CIBC Asset Management Inc decreased its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 39.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,021,139 shares of the Wireless communications provider’s stock after selling 651,971 shares during the quarter. CIBC Asset Management Inc owned 0.19% of Rogers Communications worth $31,321,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC raised its position in Rogers Communications by 19.1% during the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock worth $178,000 after buying an additional 930 shares during the last quarter. Louisbourg Investments Inc. increased its stake in shares of Rogers Communications by 18.9% in the fourth quarter. Louisbourg Investments Inc. now owns 246,470 shares of the Wireless communications provider’s stock worth $7,573,000 after acquiring an additional 39,156 shares during the period. American Capital Advisory LLC raised its holdings in shares of Rogers Communications by 1,349.5% during the fourth quarter. American Capital Advisory LLC now owns 16,945 shares of the Wireless communications provider’s stock worth $521,000 after purchasing an additional 15,776 shares during the last quarter. Vest Financial LLC lifted its position in Rogers Communications by 59.2% during the fourth quarter. Vest Financial LLC now owns 24,623 shares of the Wireless communications provider’s stock valued at $757,000 after purchasing an additional 9,160 shares during the period. Finally, Waldron Private Wealth LLC lifted its position in Rogers Communications by 3.1% during the fourth quarter. Waldron Private Wealth LLC now owns 21,943 shares of the Wireless communications provider’s stock valued at $682,000 after purchasing an additional 660 shares during the period. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on RCI. Morgan Stanley assumed coverage on Rogers Communications in a research report on Monday, December 16th. They issued an “underweight” rating on the stock. Bank of America lowered shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Barclays restated an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Stock Down 0.8 %

RCI opened at $28.04 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. Rogers Communications Inc. has a twelve month low of $26.57 and a twelve month high of $45.93. The company has a market cap of $14.98 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.37 and a beta of 0.68. The company has a 50-day moving average price of $29.73 and a 200 day moving average price of $35.38.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. Sell-side analysts expect that Rogers Communications Inc. will post 3.58 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be issued a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s payout ratio is currently 60.78%.

Rogers Communications 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.