Rogers Communications Inc. (NYSE:RCI) Shares Acquired by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. increased its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 180.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 344,131 shares of the Wireless communications provider’s stock after acquiring an additional 221,628 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Rogers Communications were worth $10,560,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RCI. The Manufacturers Life Insurance Company increased its position in Rogers Communications by 371.0% during the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after purchasing an additional 3,980,525 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Rogers Communications by 90.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock worth $115,775,000 after purchasing an additional 1,375,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Rogers Communications by 86.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock worth $104,965,000 after purchasing an additional 1,211,482 shares during the last quarter. National Bank of Canada FI increased its position in Rogers Communications by 18.6% during the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after purchasing an additional 977,924 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Rogers Communications by 1,046.8% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock worth $24,101,000 after purchasing an additional 547,201 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Bank of America downgraded shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley began coverage on shares of Rogers Communications in a research note on Monday, December 16th. They set an “underweight” rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.75.

Rogers Communications Price Performance

Shares of RCI stock opened at $28.29 on Thursday. The company has a market capitalization of $15.12 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The firm has a fifty day simple moving average of $28.16 and a 200-day simple moving average of $33.53. The company has a current ratio of 0.66, a quick ratio of 0.61 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 $42.96.

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 for the quarter, beating 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%. Equities research analysts anticipate that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be paid a $0.347 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.39 annualized dividend and a dividend yield of 4.91%. Rogers Communications’s dividend payout ratio (DPR) is presently 59.48%.

Rogers Communications Company 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.