Pictet Asset Management Holding SA Has $5.61 Million Stock Position in Rogers Communications Inc. (NYSE:RCI)

Pictet Asset Management Holding SA increased its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 19.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,728 shares of the Wireless communications provider’s stock after acquiring an additional 30,015 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Rogers Communications were worth $5,614,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. National Bank of Canada FI lifted its position in Rogers Communications by 18.6% during the 3rd quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock valued at $250,886,000 after purchasing an additional 977,924 shares during the period. AGF Management Ltd. raised its stake in shares of Rogers Communications by 4.4% during the fourth quarter. AGF Management Ltd. now owns 2,779,212 shares of the Wireless communications provider’s stock worth $85,405,000 after buying an additional 117,117 shares during the last quarter. FMR LLC lifted its holdings in Rogers Communications by 2.8% in the third quarter. FMR LLC now owns 2,496,298 shares of the Wireless communications provider’s stock valued at $100,372,000 after buying an additional 68,759 shares during the period. JPMorgan Chase & Co. boosted its stake in Rogers Communications by 0.9% in the third quarter. JPMorgan Chase & Co. now owns 1,728,836 shares of the Wireless communications provider’s stock valued at $69,516,000 after acquiring an additional 15,609 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Rogers Communications by 10.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,633,981 shares of the Wireless communications provider’s stock worth $66,176,000 after acquiring an additional 156,217 shares during the period. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Trading Up 3.0 %

NYSE RCI opened at $26.06 on Friday. Rogers Communications Inc. has a one year low of $24.76 and a one year high of $41.84. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. 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. The stock’s 50-day moving average is $27.78 and its 200-day moving average is $32.53.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data 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 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 declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th were paid a $0.347 dividend. This represents a $1.39 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend was Monday, March 10th. Rogers Communications’s dividend payout ratio is 59.48%.

Analyst Ratings Changes

A number of research firms have recently weighed in on RCI. Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Barclays restated an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Scotiabank cut Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research note on Tuesday. Finally, Morgan Stanley started coverage on shares of Rogers Communications in a research report on Monday, December 16th. They issued an “underweight” rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $61.75.

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.