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

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

Other institutional investors have also recently made changes to their positions in the company. Crossmark Global Holdings Inc. boosted its holdings in Rogers Communications by 1.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 23,563 shares of the Wireless communications provider's stock worth $725,000 after buying an additional 379 shares during the period. Forsta AP Fonden boosted its holdings in shares of Rogers Communications by 3.2% in the fourth quarter. Forsta AP Fonden now owns 84,400 shares of the Wireless communications provider's stock worth $2,593,000 after acquiring an additional 2,600 shares during the period. Waldron Private Wealth LLC grew 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 purchasing an additional 660 shares in the last quarter. Vest Financial LLC grew its position in shares of Rogers Communications by 59.2% in the fourth quarter. Vest Financial LLC now owns 24,623 shares of the Wireless communications provider's stock valued at $757,000 after purchasing an additional 9,160 shares in the last quarter. Finally, American Capital Advisory LLC grew its position in shares of Rogers Communications by 1,349.5% in the fourth quarter. American Capital Advisory LLC now owns 16,945 shares of the Wireless communications provider's stock valued at $521,000 after purchasing an additional 15,776 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communications Price Performance

Rogers Communications stock traded up $0.32 during midday trading on Thursday, hitting $26.60. 190,386 shares of the company's stock were exchanged, compared to its average volume of 1,010,373. Rogers Communications Inc. has a 52-week low of $23.18 and a 52-week high of $41.84. The stock has a 50-day moving average price of $25.60 and a two-hundred day moving average price of $28.84. 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 company has a market cap of $14.26 billion, a P/E ratio of 11.46, a PEG ratio of 1.43 and a beta of 0.73.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted 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). Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. The business had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $4.96 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. Rogers Communications's quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Increases Dividend

The firm 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 dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a yield of 5.43%. This is a boost from Rogers Communications's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, June 9th. Rogers Communications's payout ratio is presently 59.66%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RCI. Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $67.00.

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.