FIL Ltd Buys 2,244,240 Shares of Rogers Communications Inc. (NYSE:RCI)

FIL Ltd lifted its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 7.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 33,450,577 shares of the Wireless communications provider’s stock after acquiring an additional 2,244,240 shares during the period. Rogers Communications accounts for about 1.0% of FIL Ltd’s portfolio, making the stock its 19th biggest position. FIL Ltd owned approximately 0.06% of Rogers Communications worth $1,028,336,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its stake in Rogers Communications by 123.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider’s stock valued at $206,565,000 after purchasing an additional 3,717,487 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Rogers Communications by 5,526.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 591,944 shares of the Wireless communications provider’s stock valued at $18,177,000 after buying an additional 581,424 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Rogers Communications by 31.5% during the fourth quarter. Geode Capital Management LLC now owns 2,149,482 shares of the Wireless communications provider’s stock worth $67,040,000 after acquiring an additional 515,501 shares in the last quarter. QV Investors Inc. acquired a new stake in shares of Rogers Communications in the 4th quarter worth about $12,650,000. Finally, Assenagon Asset Management S.A. bought a new position in Rogers Communications in the 4th quarter valued at about $12,019,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Stock Down 4.1 %

RCI stock opened at $24.75 on Tuesday. The stock has a market cap of $13.27 billion, a P/E ratio of 10.67, a P/E/G ratio of 1.43 and a beta of 0.67. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The stock’s fifty day simple moving average is $27.64 and its two-hundred day simple moving average is $32.21. Rogers Communications Inc. has a 1-year low of $24.48 and a 1-year high of $41.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. Analysts expect that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th were given a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date was Monday, March 10th. Rogers Communications’s dividend payout ratio is currently 59.48%.

Wall Street Analysts Forecast Growth

RCI has been the subject of a number of recent research reports. Scotiabank lowered Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, April 1st. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Bank of America lowered Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Morgan Stanley initiated coverage on shares of Rogers Communications in a report on Monday, December 16th. They set an “underweight” rating on the stock. Finally, Canaccord Genuity Group upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Rogers Communications currently has a consensus rating of “Hold” and a consensus price target of $61.75.

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.