Public Employees Retirement System of Ohio Has $7.43 Million Stake in Rogers Communications Inc. (NYSE:RCI)

Public Employees Retirement System of Ohio grew its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 280.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 241,730 shares of the Wireless communications provider's stock after purchasing an additional 178,145 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Rogers Communications were worth $7,428,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on RCI. Scotiabank cut shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research note on Tuesday, April 1st. Canaccord Genuity Group upgraded shares of Rogers Communications from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Rogers Communications has a consensus rating of "Hold" and a consensus price target of $67.00.

Rogers Communications Price Performance

RCI traded up $0.29 during midday trading on Friday, reaching $26.86. 1,262,869 shares of the company's stock were exchanged, compared to its average volume of 1,014,242. The firm has a market capitalization of $14.40 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.43 and a beta of 0.73. 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 Inc. has a one year low of $23.18 and a one year high of $41.84. The business has a 50-day simple moving average of $25.58 and a two-hundred day simple moving average of $28.71.

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 analysts' consensus estimates of $0.71 by ($0.02). The business had revenue of $3.46 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 EPS. As a group, research analysts predict that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Increases Dividend

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