Rogers Communications Inc. (NYSE:RCI) Shares Sold by Value Partners Investments Inc.

Value Partners Investments Inc. reduced its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 90.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,909 shares of the Wireless communications provider’s stock after selling 1,551,712 shares during the period. Rogers Communications makes up approximately 0.2% of Value Partners Investments Inc.’s portfolio, making the stock its 11th largest position. Value Partners Investments Inc.’s holdings in Rogers Communications were worth $5,252,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new position in Rogers Communications in the 4th quarter valued at about $755,000. Barclays PLC boosted its position in shares of Rogers Communications by 15.7% in the fourth quarter. Barclays PLC now owns 170,070 shares of the Wireless communications provider’s stock worth $5,228,000 after acquiring an additional 23,043 shares during the last quarter. Scotia Capital Inc. grew its holdings in Rogers Communications by 18.3% in the fourth quarter. Scotia Capital Inc. now owns 3,697,645 shares of the Wireless communications provider’s stock valued at $113,217,000 after purchasing an additional 572,270 shares during the period. CenterBook Partners LP raised its stake in Rogers Communications by 20.4% during the fourth quarter. CenterBook Partners LP now owns 101,319 shares of the Wireless communications provider’s stock worth $3,114,000 after purchasing an additional 17,198 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Rogers Communications during the fourth quarter worth approximately $608,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RCI shares. Scotiabank downgraded Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st. Canaccord Genuity Group raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday, April 4th. Bank of America downgraded shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Barclays restated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Finally, Morgan Stanley assumed coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $67.00.

Rogers Communications Stock Up 3.6 %

RCI opened at $24.39 on Monday. The firm has a market cap of $13.08 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The firm’s 50-day simple moving average is $27.15 and its 200-day simple moving average is $31.58. Rogers Communications Inc. has a twelve month low of $23.18 and a twelve month high of $41.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share 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%. Equities research analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th were paid a $0.347 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a yield of 5.69%. Rogers Communications’s payout ratio is presently 59.48%.

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.