Polar Asset Management Partners Inc. Has $1.31 Million Stock Holdings in Rogers Communications Inc. (NYSE:RCI)

Polar Asset Management Partners Inc. lifted its position in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 239.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,500 shares of the Wireless communications provider's stock after buying an additional 29,982 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Rogers Communications were worth $1,306,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. FIL Ltd boosted its position in Rogers Communications by 7.2% during the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock worth $1,028,336,000 after purchasing an additional 2,244,240 shares during the period. Bank of Nova Scotia boosted its position in Rogers Communications by 20.6% during the fourth quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider's stock worth $237,784,000 after purchasing an additional 1,320,200 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Rogers Communications by 123.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock worth $206,565,000 after purchasing an additional 3,717,487 shares during the period. Letko Brosseau & Associates Inc. boosted its position in Rogers Communications by 23.5% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 5,210,380 shares of the Wireless communications provider's stock worth $160,094,000 after purchasing an additional 992,780 shares during the period. Finally, Scotia Capital Inc. boosted its position in Rogers Communications by 18.3% during the fourth quarter. Scotia Capital Inc. now owns 3,697,645 shares of the Wireless communications provider's stock worth $113,217,000 after purchasing an additional 572,270 shares during the period. Institutional investors own 45.49% of the company's stock.

Wall Street Analysts Forecast Growth

RCI has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $67.00.

Rogers Communications Stock Performance

Shares of RCI traded up $0.29 during mid-day trading on Friday, hitting $26.86. The company's stock had a trading volume of 1,262,869 shares, compared to its average volume of 1,015,153. Rogers Communications Inc. has a one year low of $23.18 and a one year high of $41.84. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The firm has a market capitalization of $14.40 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.43 and a beta of 0.73. The stock's 50-day moving average is $25.58 and its two-hundred day moving average is $28.66.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.02). The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $4.96 billion. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $0.99 earnings per share. As a group, sell-side analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be given a $0.3611 dividend. This is a boost from Rogers Communications's previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a yield of 5.38%. The ex-dividend date of this dividend is Monday, June 9th. Rogers Communications's dividend payout ratio (DPR) is 59.66%.

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.