Wellington Management Group LLP Increases Stock Position in Rogers Communications Inc. (NYSE:RCI)

Wellington Management Group LLP grew its stake in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 95.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,424 shares of the Wireless communications provider's stock after buying an additional 21,226 shares during the period. Wellington Management Group LLP's holdings in Rogers Communications were worth $1,334,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. FIL Ltd boosted its position in Rogers Communications by 7.2% during the 4th quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock worth $1,028,336,000 after purchasing an additional 2,244,240 shares during the period. Bank of Nova Scotia boosted its position in Rogers Communications by 20.6% during the 4th quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider's stock worth $237,784,000 after purchasing an additional 1,320,200 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Rogers Communications by 123.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock worth $206,565,000 after purchasing an additional 3,717,487 shares during the period. Letko Brosseau & Associates Inc. boosted its position in Rogers Communications by 23.5% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 5,210,380 shares of the Wireless communications provider's stock worth $160,094,000 after purchasing an additional 992,780 shares during the period. Finally, Scotia Capital Inc. boosted its position in Rogers Communications by 18.3% during the 4th quarter. Scotia Capital Inc. now owns 3,697,645 shares of the Wireless communications provider's stock worth $113,217,000 after purchasing an additional 572,270 shares during the period. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Stock Performance

NYSE:RCI opened at $26.59 on Friday. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The firm has a 50-day moving average of $25.56 and a two-hundred day moving average of $28.40. The stock has a market cap of $14.25 billion, a P/E ratio of 11.46, a PEG ratio of 1.43 and a beta of 0.73. Rogers Communications Inc. has a 1-year low of $23.18 and a 1-year high of $41.84.

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

Rogers Communications Increases Dividend

The company also recently disclosed 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 a boost from Rogers Communications's previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date of this dividend is Monday, June 9th. Rogers Communications's dividend payout ratio is presently 62.23%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RCI shares. Scotiabank cut shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. Canaccord Genuity Group raised shares of 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 given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Rogers Communications has a consensus rating of "Hold" and an average target price of $67.00.

Rogers Communications Company 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.

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