Man Group plc Decreases Holdings in Rogers Communications Inc. (NYSE:RCI)

Man Group plc cut its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 83.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 large investors have also recently made changes to their positions in the company. Lindbrook Capital LLC increased its holdings in shares of Rogers Communications by 95.1% in the 4th 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 during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Rogers Communications by 141.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock worth $55,000 after buying an additional 1,052 shares during the last quarter. Headlands Technologies LLC increased its holdings in shares of Rogers Communications by 274.2% in the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock worth $163,000 after buying an additional 3,888 shares during the last quarter. V Square Quantitative Management LLC increased its holdings 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 worth $178,000 after buying an additional 930 shares during the last quarter. Finally, Prudential PLC increased its holdings 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 worth $268,000 after buying an additional 1,552 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RCI shares. Scotiabank downgraded shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. Canaccord Genuity Group upgraded shares of Rogers Communications from a "hold" rating to a "buy" rating in a report on Friday, April 4th. One investment 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 data from MarketBeat, Rogers Communications presently has a consensus rating of "Hold" and an average target price of $67.00.

Rogers Communications Trading Up 1.8%

NYSE:RCI traded up $0.46 during mid-day trading on Tuesday, hitting $26.55. 1,146,919 shares of the stock traded hands, compared to its average volume of 1,013,456. The stock has a market capitalization of $14.23 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.43 and a beta of 0.73. Rogers Communications Inc. has a 52 week low of $23.18 and a 52 week high of $41.84. The firm's 50 day moving average is $25.65 and its two-hundred day moving average is $28.87. 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 (NYSE:RCI - Get Free Report) TSE: RCI.B last issued 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). The firm 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 business's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, equities research analysts predict that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 9th will be given a $0.3611 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.44%. The ex-dividend date is Monday, June 9th. This is a boost from Rogers Communications's previous quarterly dividend of $0.35. Rogers Communications's dividend payout ratio is presently 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.