A&I Financial Services LLC Invests $363,000 in Rogers Communications Inc. (NYSE:RCI)

A&I Financial Services LLC bought a new position in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,827 shares of the Wireless communications provider's stock, valued at approximately $363,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its stake in Rogers Communications by 371.0% during the 3rd 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 shares of Rogers Communications by 106.5% during the third 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. Avanza Fonder AB acquired a new position in shares of Rogers Communications during the fourth quarter worth approximately $718,000. MQS Management LLC bought a new position in Rogers Communications in the 3rd quarter worth approximately $726,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position 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 valued at $24,101,000 after acquiring an additional 547,201 shares during the period. 45.49% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several research firms recently weighed in on RCI. Bank of America downgraded shares of Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Morgan Stanley initiated coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an "underweight" rating for the company. Finally, Barclays restated an "equal weight" rating on shares of Rogers Communications in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $61.75.

Rogers Communications Stock Down 0.5 %

Shares of RCI traded down $0.14 during mid-day trading on Monday, reaching $27.62. The company's stock had a trading volume of 762,702 shares, compared to its average volume of 1,069,587. The company has a market cap of $14.76 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.43 and a beta of 0.68. The business has a fifty day moving average of $28.82 and a 200 day moving average of $34.60. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. Rogers Communications Inc. has a 1 year low of $26.57 and a 1 year high of $44.53.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced 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 return on equity of 25.19% and a net margin of 8.40%. As a group, analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share 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 paid a $0.347 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.39 annualized dividend and a yield of 5.02%. Rogers Communications's dividend payout ratio is presently 59.05%.

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.