Assenagon Asset Management S.A. Purchases Shares of 391,123 Rogers Communications Inc. (NYSE:RCI)

Assenagon Asset Management S.A. bought a new stake in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 391,123 shares of the Wireless communications provider's stock, valued at approximately $12,019,000. Assenagon Asset Management S.A. owned 0.07% of Rogers Communications at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake 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 valued at $203,334,000 after purchasing an additional 3,980,525 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Rogers Communications by 106.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider's stock valued at $5,383,000 after buying an additional 68,971 shares during the last quarter. MQS Management LLC purchased a new stake in Rogers Communications during the 3rd quarter valued at $726,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Rogers Communications by 1,046.8% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider's stock worth $24,101,000 after acquiring an additional 547,201 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Rogers Communications by 53.9% in the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider's stock valued at $233,099,000 after acquiring an additional 2,206,690 shares during the period. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Stock Down 1.0 %

Shares of RCI stock traded down $0.30 during midday trading on Friday, reaching $28.19. 773,024 shares of the stock were exchanged, compared to its average volume of 992,225. The firm has a market cap of $15.07 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.91 and a beta of 0.69. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The company's 50 day moving average is $32.81 and its two-hundred day moving average is $36.71. Rogers Communications Inc. has a 1 year low of $27.63 and a 1 year high of $48.19.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the company earned $0.95 earnings per share. The firm's quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts predict that Rogers Communications Inc. will post 3.52 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a dividend of $0.3611 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.44 annualized dividend and a dividend yield of 5.12%. Rogers Communications's dividend payout ratio (DPR) is presently 68.78%.

Analyst Upgrades and Downgrades

RCI has been the topic of several recent analyst reports. Bank of America cut Rogers Communications from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 14th. Morgan Stanley assumed coverage on Rogers Communications in a research note on Monday, December 16th. They set an "underweight" rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target 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.