AGF Management Ltd. Has $171.24 Million Stock Position in Rogers Communications Inc. (NYSE:RCI)

AGF Management Ltd. raised its position in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 46.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,310,984 shares of the Wireless communications provider's stock after acquiring an additional 1,055,707 shares during the period. Rogers Communications makes up 1.0% of AGF Management Ltd.'s portfolio, making the stock its 23rd biggest holding. AGF Management Ltd. owned approximately 0.63% of Rogers Communications worth $171,242,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RCI. Cascade Investment Advisors Inc. boosted its stake in Rogers Communications by 42.7% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 32,070 shares of the Wireless communications provider's stock valued at $1,231,000 after purchasing an additional 9,600 shares during the period. Lorne Steinberg Wealth Management Inc. lifted its holdings in shares of Rogers Communications by 1.9% during the third quarter. Lorne Steinberg Wealth Management Inc. now owns 70,198 shares of the Wireless communications provider's stock worth $2,707,000 after buying an additional 1,311 shares during the last quarter. K.J. Harrison & Partners Inc boosted its position in shares of Rogers Communications by 10.6% in the third quarter. K.J. Harrison & Partners Inc now owns 15,287 shares of the Wireless communications provider's stock valued at $590,000 after acquiring an additional 1,460 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Rogers Communications in the third quarter worth $29,000. Finally, M&T Bank Corp increased its position in Rogers Communications by 2.6% during the third quarter. M&T Bank Corp now owns 34,451 shares of the Wireless communications provider's stock worth $1,323,000 after acquiring an additional 859 shares during the period. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Stock Performance

Shares of NYSE RCI traded up $0.21 during trading hours on Friday, reaching $39.54. The stock had a trading volume of 744,115 shares, compared to its average volume of 1,034,363. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 49.43, a PEG ratio of 1.05 and a beta of 0.63. Rogers Communications Inc. has a twelve month low of $36.55 and a twelve month high of $49.38. The business's fifty day moving average is $40.33 and its two-hundred day moving average is $43.15. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.72.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. As a group, research analysts expect that Rogers Communications Inc. will post 3.64 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 10th will be given a $0.3658 dividend. This represents a $1.46 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Monday, June 10th. Rogers Communications's dividend payout ratio (DPR) is presently 183.75%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RCI shares. Barclays reduced their price target on shares of Rogers Communications from $52.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday, April 10th. StockNews.com downgraded Rogers Communications from a "hold" rating to a "sell" rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Rogers Communications has a consensus rating of "Moderate Buy" and a consensus target price of $46.00.

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.