Rogers Communications Inc. (NYSE:RCI) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 81.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 488,803 shares of the Wireless communications provider’s stock after selling 2,122,030 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of Rogers Communications worth $15,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. AGF Management Ltd. raised its holdings in Rogers Communications by 4.4% in the fourth quarter. AGF Management Ltd. now owns 2,779,212 shares of the Wireless communications provider’s stock valued at $85,405,000 after acquiring an additional 117,117 shares in the last quarter. Amundi raised its holdings in shares of Rogers Communications by 27.4% in the 4th quarter. Amundi now owns 582,791 shares of the Wireless communications provider’s stock valued at $17,793,000 after purchasing an additional 125,183 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Rogers Communications by 4.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,194 shares of the Wireless communications provider’s stock valued at $436,000 after purchasing an additional 571 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. lifted its position in shares of Rogers Communications by 24.1% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,443,877 shares of the Wireless communications provider’s stock worth $44,330,000 after purchasing an additional 280,779 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of Rogers Communications by 95.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock worth $47,000 after purchasing an additional 744 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communications Price Performance

Shares of NYSE RCI opened at $27.86 on Friday. The stock has a market cap of $14.89 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a twelve month low of $26.57 and a twelve month high of $43.17. The stock has a 50 day moving average of $28.36 and a two-hundred day moving average of $33.92. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI) (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%. On average, research analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be issued a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio is currently 59.48%.

Analyst Ratings Changes

A number of research firms have weighed in on RCI. Barclays restated an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley began coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.75.

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.