Alberta Investment Management Corp Has $38 Million Stake in Rogers Communications Inc. (NYSE:RCI)

Alberta Investment Management Corp reduced its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 2.8% in the 4th quarter, Holdings Channel reports. The firm owned 1,236,573 shares of the Wireless communications provider’s stock after selling 35,652 shares during the period. Alberta Investment Management Corp’s holdings in Rogers Communications were worth $37,995,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning lifted its stake in shares of Rogers Communications by 2.2% during the third quarter. Creative Planning now owns 22,282 shares of the Wireless communications provider’s stock valued at $896,000 after acquiring an additional 486 shares during the period. Vest Financial LLC lifted its stake in Rogers Communications by 26.2% in the third quarter. Vest Financial LLC now owns 15,463 shares of the Wireless communications provider’s stock valued at $622,000 after buying an additional 3,213 shares during the period. Signaturefd LLC increased its holdings in shares of Rogers Communications by 11.1% in the third quarter. Signaturefd LLC now owns 6,627 shares of the Wireless communications provider’s stock worth $266,000 after acquiring an additional 664 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in shares of Rogers Communications by 1.7% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 244,353 shares of the Wireless communications provider’s stock worth $9,742,000 after acquiring an additional 3,971 shares in the last quarter. Finally, Cromwell Holdings LLC bought a new position in shares of Rogers Communications during the third quarter worth about $31,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Stock Performance

NYSE:RCI opened at $27.84 on Wednesday. The stock has a fifty day moving average price of $29.47 and a 200-day moving average price of $35.23. The company has a market cap of $14.88 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.43 and a beta of 0.68. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. Rogers Communications Inc. has a fifty-two week low of $26.57 and a fifty-two week high of $45.93.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, topping 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%. As a group, equities analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be given a dividend of $0.347 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.39 annualized dividend and a dividend yield of 4.99%. Rogers Communications’s payout ratio is 60.78%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Bank of America lowered Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley initiated coverage on Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus 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.