Value Partners Investments Inc. Sells 1,551,712 Shares of Rogers Communications Inc. (NYSE:RCI)

Value Partners Investments Inc. trimmed its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 90.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 170,909 shares of the Wireless communications provider's stock after selling 1,551,712 shares during the quarter. Rogers Communications accounts for about 0.2% of Value Partners Investments Inc.'s holdings, making the stock its 11th biggest holding. Value Partners Investments Inc.'s holdings in Rogers Communications were worth $5,252,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its stake 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 worth $206,565,000 after purchasing an additional 3,717,487 shares during the last quarter. FIL Ltd lifted its stake in shares of Rogers Communications by 7.2% in the 4th 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 period. Bank of Nova Scotia boosted its position in shares of Rogers Communications by 20.6% during 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 in the last quarter. Hillsdale Investment Management Inc. raised its holdings in Rogers Communications by 5,526.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 591,944 shares of the Wireless communications provider's stock worth $18,177,000 after purchasing an additional 581,424 shares in the last quarter. Finally, Scotia Capital Inc. boosted its holdings in shares of 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 valued at $113,217,000 after buying an additional 572,270 shares in the last quarter. Institutional investors own 45.49% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on RCI. Scotiabank lowered 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 raised Rogers Communications from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Bank of America downgraded shares of Rogers Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Finally, Barclays reaffirmed an "equal weight" rating on shares of Rogers Communications in a report on Tuesday, January 21st. One 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, the stock presently has a consensus rating of "Hold" and an average price target of $67.00.

Rogers Communications Stock Performance

Shares of RCI traded up $0.81 during trading hours on Friday, hitting $25.90. The stock had a trading volume of 1,035,924 shares, compared to its average volume of 1,018,305. The firm has a market capitalization of $13.88 billion, a PE ratio of 11.16, a PEG ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. Rogers Communications Inc. has a 12 month low of $23.18 and a 12 month high of $41.84. The stock has a fifty day moving average price of $26.95 and a 200 day moving average price of $31.20.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. Analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th were paid a $0.347 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.39 annualized dividend and a dividend yield of 5.36%. Rogers Communications's dividend payout ratio (DPR) is 59.48%.

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.