A&I Financial Services LLC Acquires Shares of 11,827 Rogers Communications Inc. (NYSE:RCI)

A&I Financial Services LLC acquired a new stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,827 shares of the Wireless communications provider’s stock, valued at approximately $363,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC lifted its holdings in Rogers Communications by 19.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock valued at $178,000 after purchasing an additional 930 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Rogers Communications during the third quarter valued at $206,000. Tidal Investments LLC purchased a new position in Rogers Communications during the third quarter valued at $248,000. Tacita Capital Inc lifted its holdings in Rogers Communications by 102.0% during the third quarter. Tacita Capital Inc now owns 7,412 shares of the Wireless communications provider’s stock valued at $298,000 after purchasing an additional 3,742 shares in the last quarter. Finally, Verition Fund Management LLC lifted its holdings in Rogers Communications by 7.9% during the third quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider’s stock valued at $301,000 after purchasing an additional 551 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RCI. Barclays reiterated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley began coverage on shares of Rogers Communications in a research report on Monday, December 16th. They issued an “underweight” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Rogers Communications presently has an average rating of “Hold” and an average price target of $61.75.

Rogers Communications Price Performance

Rogers Communications stock opened at $27.90 on Friday. Rogers Communications Inc. has a 12-month low of $26.57 and a 12-month high of $44.83. The stock has a market cap of $14.91 billion, a P/E ratio of 12.02, a PEG ratio of 1.43 and a beta of 0.68. The company has a 50-day moving average price of $28.89 and a 200 day moving average price of $34.75. 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 data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts anticipate 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. Shareholders of record on Monday, March 10th will be given 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 is Monday, March 10th. Rogers Communications’s dividend payout ratio is presently 59.05%.

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.