United Services Automobile Association Has $600,000 Stock Position in Rogers Communications Inc. (NYSE:RCI)

United Services Automobile Association lowered its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 4.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,917 shares of the Wireless communications provider’s stock after selling 725 shares during the period. United Services Automobile Association’s holdings in Rogers Communications were worth $600,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RCI. The Manufacturers Life Insurance Company increased its holdings in Rogers Communications by 371.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after buying an additional 3,980,525 shares during the period. MQS Management LLC acquired a new stake in shares of Rogers Communications during the 3rd quarter worth approximately $726,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Rogers Communications by 1,046.8% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock valued at $24,101,000 after acquiring an additional 547,201 shares during the last quarter. Toronto Dominion Bank increased its stake in Rogers Communications by 53.9% in the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock valued at $233,099,000 after acquiring an additional 2,206,690 shares during the last quarter. Finally, Intact Investment Management Inc. raised its position in Rogers Communications by 13.1% during the third quarter. Intact Investment Management Inc. now owns 2,255,441 shares of the Wireless communications provider’s stock valued at $90,695,000 after purchasing an additional 261,220 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Stock Down 2.7 %

Shares of NYSE:RCI opened at $35.15 on Monday. Rogers Communications Inc. has a 52-week low of $34.83 and a 52-week high of $48.19. The company has a market capitalization of $18.79 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.11 and a beta of 0.67. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The company has a fifty day moving average of $37.07 and a 200-day moving average of $38.28.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities analysts predict that Rogers Communications Inc. will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $0.3611 per share. The ex-dividend date is Monday, December 9th. This represents a $1.44 annualized dividend and a yield of 4.11%. Rogers Communications’s dividend payout ratio is presently 71.71%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BMO Capital Markets raised their target price on Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. TD Securities raised their price objective on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.75.

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.