AGF Management Ltd. Raises Holdings in Rogers Communications Inc. (NYSE:RCI)

AGF Management Ltd. increased its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 4.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,779,212 shares of the Wireless communications provider’s stock after purchasing an additional 117,117 shares during the quarter. AGF Management Ltd.’s holdings in Rogers Communications were worth $85,405,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in RCI. The Manufacturers Life Insurance Company increased its position in shares of Rogers Communications by 371.0% during the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after purchasing an additional 3,980,525 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Rogers Communications by 90.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock worth $115,775,000 after buying an additional 1,375,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Rogers Communications by 86.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock worth $104,965,000 after buying an additional 1,211,482 shares during the last quarter. National Bank of Canada FI boosted its stake in Rogers Communications by 18.6% during the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after buying an additional 977,924 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Rogers Communications by 1,046.8% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock worth $24,101,000 after buying an additional 547,201 shares during the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communications Price Performance

Shares of NYSE RCI opened at $27.96 on Tuesday. The stock’s 50-day moving average is $28.52 and its two-hundred day moving average is $34.10. 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 1-year low of $26.57 and a 1-year high of $44.38. The company has a market cap of $14.94 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67.

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

Rogers Communications Cuts Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a yield of 4.96%. Rogers Communications’s payout ratio is 59.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RCI shares. Morgan Stanley started coverage on Rogers Communications in a research note 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 Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. One research 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $61.75.

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.