Polar Asset Management Partners Inc. Buys 29,982 Shares of Rogers Communications Inc. (NYSE:RCI)

Polar Asset Management Partners Inc. grew its position in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 239.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,500 shares of the Wireless communications provider's stock after purchasing 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 SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in Rogers Communications by 4.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,194 shares of the Wireless communications provider's stock worth $436,000 after purchasing an additional 571 shares in the last quarter. Waldron Private Wealth LLC raised its position in shares of Rogers Communications by 3.1% in the fourth quarter. Waldron Private Wealth LLC now owns 21,943 shares of the Wireless communications provider's stock valued at $682,000 after buying an additional 660 shares in the last quarter. State of Tennessee Department of Treasury boosted its stake in shares of Rogers Communications by 0.3% in the fourth quarter. State of Tennessee Department of Treasury now owns 218,308 shares of the Wireless communications provider's stock valued at $6,708,000 after buying an additional 720 shares during the period. Lindbrook Capital LLC grew its position in Rogers Communications by 95.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock worth $47,000 after buying an additional 744 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its stake in Rogers Communications by 19.1% during the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock worth $178,000 after acquiring an additional 930 shares during the period. Institutional investors own 45.49% of the company's stock.

Rogers Communications Stock Performance

Shares of NYSE:RCI traded up $0.29 during midday trading on Friday, reaching $26.86. The company had a trading volume of 1,126,032 shares, compared to its average volume of 1,125,278. The stock has a market cap of $14.40 billion, a P/E ratio of 11.58, a P/E/G ratio of 1.43 and a beta of 0.73. The company's 50 day moving average price is $25.59 and its 200 day moving average price is $28.77. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. Rogers Communications Inc. has a 52-week low of $23.18 and a 52-week high of $41.84.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released 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). The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $4.96 billion. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The firm's revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company 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 fiscal year.

Rogers Communications Increases Dividend

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

Wall Street Analysts Forecast Growth

RCI has been the subject of several research analyst reports. Canaccord Genuity Group upgraded shares of Rogers Communications from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Scotiabank lowered Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research note on Tuesday, April 1st. One research 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's stock. According to data from MarketBeat.com, Rogers Communications has a consensus rating of "Hold" and an average price target of $67.00.

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.