Rogers Communications Inc. (NYSE:RCI) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 123.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,727,400 shares of the Wireless communications provider’s stock after acquiring an additional 3,717,487 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Rogers Communications were worth $206,565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Rogers Communications by 106.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider’s stock worth $5,383,000 after purchasing an additional 68,971 shares during the last quarter. Avanza Fonder AB bought a new stake in Rogers Communications during the fourth quarter worth approximately $718,000. Northwest & Ethical Investments L.P. grew its position in Rogers Communications by 180.9% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 344,131 shares of the Wireless communications provider’s stock worth $10,560,000 after buying an additional 221,628 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Rogers Communications by 1,046.8% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock valued at $24,101,000 after buying an additional 547,201 shares in the last quarter. Finally, Louisbourg Investments Inc. lifted its position in shares of Rogers Communications by 18.9% during the 4th quarter. Louisbourg Investments Inc. now owns 246,470 shares of the Wireless communications provider’s stock valued at $7,573,000 after acquiring an additional 39,156 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RCI shares. Morgan Stanley initiated coverage on Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Finally, Bank of America lowered shares of Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Price Performance

Shares of RCI opened at $27.28 on Monday. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The company has a market capitalization of $14.62 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 1.43 and a beta of 0.67. The business’s 50-day moving average is $27.97 and its 200-day moving average is $32.83. Rogers Communications Inc. has a fifty-two week low of $26.57 and a fifty-two week high of $41.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. Equities research analysts expect that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be given a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s payout ratio is currently 59.48%.

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.