Raymond James Financial Inc. Purchases Shares of 19,782 Rogers Communications Inc. (NYSE:RCI)

Raymond James Financial Inc. purchased a new stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,782 shares of the Wireless communications provider's stock, valued at approximately $608,000.

Other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its stake in Rogers Communications by 123.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock valued at $206,565,000 after acquiring an additional 3,717,487 shares during the period. FIL Ltd lifted its stake in shares of 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 buying an additional 2,244,240 shares during the last quarter. Bank of Nova Scotia lifted its stake in shares of 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 buying an additional 1,320,200 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in Rogers Communications by 5,526.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 591,944 shares of the Wireless communications provider's stock valued at $18,177,000 after buying an additional 581,424 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Rogers Communications by 31.5% in the 4th quarter. Geode Capital Management LLC now owns 2,149,482 shares of the Wireless communications provider's stock valued at $67,040,000 after acquiring an additional 515,501 shares during the period. Institutional investors and hedge funds own 45.49% of the company's stock.

Analyst Upgrades and Downgrades

RCI has been the subject of a number of research analyst reports. Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. Bank of America downgraded Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Barclays restated an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Finally, Canaccord Genuity Group upgraded 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $67.00.

Rogers Communications Price Performance

Shares of RCI stock traded up $0.10 during trading hours on Friday, reaching $25.53. The company's stock had a trading volume of 1,034,307 shares, compared to its average volume of 1,014,306. Rogers Communications Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $41.84. The firm's 50 day simple moving average is $26.19 and its 200-day simple moving average is $29.77. 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 company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.43 and a beta of 0.73.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its 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 business had revenue of $3.46 billion for the quarter, compared to analyst estimates 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 was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 EPS. Sell-side analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be given a dividend of $0.3611 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a yield of 5.66%. This is a positive change from Rogers Communications's previous quarterly dividend of $0.35. Rogers Communications's payout ratio is currently 59.66%.

Rogers Communications 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.