Polar Asset Management Partners Inc. Increases Position in Rogers Communications Inc. (NYSE:RCI)

Polar Asset Management Partners Inc. boosted its stake in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 239.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,500 shares of the Wireless communications provider's stock after purchasing an additional 29,982 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Rogers Communications were worth $1,306,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Minot DeBlois Advisors LLC acquired a new position in Rogers Communications in the 4th quarter valued at about $434,000. Letko Brosseau & Associates Inc. increased 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 buying an additional 992,780 shares during the period. Gotham Asset Management LLC lifted its holdings in shares of Rogers Communications by 210.8% during the fourth quarter. Gotham Asset Management LLC now owns 30,718 shares of the Wireless communications provider's stock worth $944,000 after buying an additional 20,833 shares in the last quarter. Graham Capital Management L.P. lifted its holdings in shares of Rogers Communications by 78.2% during the fourth quarter. Graham Capital Management L.P. now owns 50,395 shares of the Wireless communications provider's stock worth $1,549,000 after buying an additional 22,110 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Rogers Communications by 3.7% in the fourth quarter. Deutsche Bank AG now owns 552,776 shares of the Wireless communications provider's stock valued at $16,987,000 after acquiring an additional 19,860 shares during the period. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Stock Up 0.0%

RCI stock traded up $0.01 during mid-day trading on Wednesday, reaching $25.90. 1,208,744 shares of the company traded hands, compared to its average volume of 1,143,755. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. The firm's 50 day moving average price is $25.83 and its 200 day moving average price is $29.22. The stock has a market cap of $13.88 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 1.43 and a beta of 0.73. Rogers Communications Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $41.84.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.02). Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The company had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $4.96 billion. During the same period in the previous year, the firm earned $0.99 EPS. The firm's quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts predict that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 9th will be paid a $0.3611 dividend. This is a positive change from Rogers Communications's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.44 annualized dividend and a dividend yield of 5.58%. Rogers Communications's dividend payout ratio is presently 59.66%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Scotiabank cut shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. Barclays reissued an "equal weight" rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Canaccord Genuity Group raised shares of Rogers Communications from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. One 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. Based on data from MarketBeat, Rogers Communications currently has an average rating of "Hold" and a consensus price target 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.