Man Group plc Trims Position in Rogers Communications Inc. (NYSE:RCI)

Man Group plc reduced its position in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 83.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,781 shares of the Wireless communications provider's stock after selling 287,360 shares during the quarter. Man Group plc's holdings in Rogers Communications were worth $1,776,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Lindbrook Capital LLC boosted its stake 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 during the period. Jones Financial Companies Lllp raised its stake in Rogers Communications by 141.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock valued at $55,000 after acquiring an additional 1,052 shares during the last quarter. Headlands Technologies LLC raised its stake in Rogers Communications by 274.2% during the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock valued at $163,000 after acquiring an additional 3,888 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of Rogers Communications by 19.1% in the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock valued at $178,000 after purchasing an additional 930 shares during the last quarter. Finally, Prudential PLC grew its stake in shares of Rogers Communications by 21.6% in the 4th quarter. Prudential PLC now owns 8,734 shares of the Wireless communications provider's stock valued at $268,000 after purchasing an additional 1,552 shares during the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Scotiabank lowered shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $67.00.

Rogers Communications Price Performance

Shares of NYSE:RCI traded down $0.25 on Wednesday, reaching $26.34. 477,290 shares of the company were exchanged, compared to its average volume of 1,011,615. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The company has a 50-day moving average of $25.62 and a 200-day moving average of $28.85. Rogers Communications Inc. has a 1-year low of $23.18 and a 1-year high of $41.84. The firm has a market cap of $14.12 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 1.43 and a beta of 0.73.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly 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). Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. The firm had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $4.96 billion. During the same period last year, the firm earned $0.99 EPS. Rogers Communications's revenue was up 1.5% compared to the same quarter last year. Equities analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share 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 issued a $0.3611 dividend. This is a positive change from Rogers Communications's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.44 annualized dividend and a yield of 5.48%. Rogers Communications's dividend payout ratio 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.