Rogers Communications Inc. (NYSE:RCI) Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia increased its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,736,202 shares of the Wireless communications provider's stock after acquiring an additional 1,320,200 shares during the quarter. Bank of Nova Scotia owned approximately 1.45% of Rogers Communications worth $237,784,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FIL Ltd raised its position in shares of Rogers Communications by 7.2% in the 4th quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock valued at $1,028,336,000 after purchasing an additional 2,244,240 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Rogers Communications by 14.4% in the 4th quarter. Russell Investments Group Ltd. now owns 209,113 shares of the Wireless communications provider's stock valued at $6,413,000 after purchasing an additional 26,319 shares in the last quarter. Prudential PLC raised its stake in shares of Rogers Communications by 21.6% in the 4th quarter. Prudential PLC now owns 8,734 shares of the Wireless communications provider's stock valued at $268,000 after purchasing an additional 1,552 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Rogers Communications by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,914,155 shares of the Wireless communications provider's stock worth $89,552,000 after purchasing an additional 17,666 shares during the last quarter. Finally, Headlands Technologies LLC grew its stake in Rogers Communications by 274.2% in the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock worth $163,000 after purchasing an additional 3,888 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RCI shares. Scotiabank downgraded Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. Canaccord Genuity Group raised shares of Rogers Communications from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Bank of America cut shares of Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Barclays reaffirmed an "equal weight" rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Morgan Stanley began coverage on shares of 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, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $67.00.

Rogers Communications Stock Performance

Shares of Rogers Communications stock traded up $0.85 during trading on Friday, hitting $24.39. 1,662,738 shares of the stock were exchanged, compared to its average volume of 1,013,214. The stock has a market cap of $13.08 billion, a PE ratio of 10.51, a P/E/G ratio of 1.43 and a beta of 0.67. The stock's fifty day moving average is $27.15 and its 200 day moving average is $31.58. Rogers Communications Inc. has a 12 month low of $23.18 and a 12 month high of $41.84. 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 (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS 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%. As a group, sell-side analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

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

Rogers Communications Company 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.