Orion Portfolio Solutions LLC Sells 12,651 Shares of Rogers Communications Inc. (NYSE:RCI)

Orion Portfolio Solutions LLC reduced its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 21.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 45,058 shares of the Wireless communications provider’s stock after selling 12,651 shares during the period. Orion Portfolio Solutions LLC’s holdings in Rogers Communications were worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Lindbrook Capital LLC lifted its holdings in Rogers Communications by 95.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock worth $47,000 after purchasing an additional 744 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Rogers Communications by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock valued at $55,000 after buying an additional 1,052 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Rogers Communications in the third quarter worth about $206,000. V Square Quantitative Management LLC lifted its holdings in shares of Rogers Communications by 19.1% in the fourth 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 in the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Rogers Communications in the third quarter valued at approximately $248,000. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communications Stock Up 3.0 %

Shares of RCI opened at $26.06 on Friday. The firm has a market cap of $13.97 billion, a P/E ratio of 11.23, a P/E/G ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a 1 year low of $24.76 and a 1 year high of $41.84. The stock has a 50 day simple moving average of $27.78 and a two-hundred day simple moving average of $32.53. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS 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%. On average, analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 10th were issued a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend was Monday, March 10th. Rogers Communications’s dividend payout ratio is presently 59.48%.

Analysts Set New Price Targets

Several research firms have issued reports on RCI. Morgan Stanley began coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. Barclays reissued an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Scotiabank downgraded shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research note on Tuesday. Finally, Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Rogers Communications currently has an average rating of “Hold” and a consensus target price 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.