Canada Pension Plan Investment Board Increases Stock Position in Rogers Communications Inc. (NYSE:RCI)

Canada Pension Plan Investment Board increased its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 468.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 606,700 shares of the Wireless communications provider's stock after purchasing an additional 500,000 shares during the quarter. Canada Pension Plan Investment Board owned 0.11% of Rogers Communications worth $18,627,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in RCI. Lindbrook Capital LLC boosted 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 valued at $47,000 after acquiring an additional 744 shares during the period. Jones Financial Companies Lllp boosted its stake 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 purchasing an additional 1,052 shares during the period. Headlands Technologies LLC grew its holdings in shares of Rogers Communications by 274.2% in the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock worth $163,000 after purchasing an additional 3,888 shares during the last quarter. V Square Quantitative Management LLC increased its stake 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 during the period. Finally, Tidal Investments LLC bought a new stake in Rogers Communications during the 3rd quarter valued at $248,000. 45.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group upgraded shares of Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. Barclays reaffirmed an "equal weight" rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Bank of America cut Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Finally, Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Rogers Communications presently has a consensus rating of "Hold" and an average price target of $67.00.

Rogers Communications Stock Down 0.4 %

Shares of NYSE:RCI traded down $0.09 during trading on Friday, hitting $25.15. The stock had a trading volume of 1,312,898 shares, compared to its average volume of 1,014,150. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. Rogers Communications Inc. has a 12 month low of $23.18 and a 12 month high of $41.84. The company has a market capitalization of $13.48 billion, a PE ratio of 10.84, a PEG ratio of 1.43 and a beta of 0.67. The firm's fifty day moving average is $26.68 and its 200 day moving average is $30.73.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $4.96 billion. Analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 9th will be paid a $0.3611 dividend. This is a boost from Rogers Communications's previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date of this dividend is Monday, June 9th. Rogers Communications's dividend payout ratio is currently 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.