Canada Pension Plan Investment Board Has $18.63 Million Stake in Rogers Communications Inc. (NYSE:RCI)

Canada Pension Plan Investment Board raised its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 468.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 606,700 shares of the Wireless communications provider's stock after acquiring an additional 500,000 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.11% of Rogers Communications worth $18,627,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RCI. State Street Corp raised its position in Rogers Communications by 0.5% during the 3rd quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider's stock worth $5,550,000 after purchasing an additional 661 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Rogers Communications by 10.6% in the third quarter. Geode Capital Management LLC now owns 1,633,981 shares of the Wireless communications provider's stock valued at $66,176,000 after buying an additional 156,217 shares during the period. Tidal Investments LLC bought a new position in shares of Rogers Communications during the third quarter worth about $248,000. Franklin Resources Inc. lifted its stake in shares of Rogers Communications by 25.7% in the third quarter. Franklin Resources Inc. now owns 10,900 shares of the Wireless communications provider's stock worth $423,000 after acquiring an additional 2,232 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Rogers Communications by 0.9% in the third quarter. JPMorgan Chase & Co. now owns 1,728,836 shares of the Wireless communications provider's stock worth $69,516,000 after acquiring an additional 15,609 shares during the period. Institutional investors own 45.49% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on RCI shares. Bank of America lowered shares of Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Canaccord Genuity Group raised shares of Rogers Communications from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Scotiabank cut shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. Finally, Barclays reiterated an "equal weight" rating on shares of Rogers Communications in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $67.00.

Rogers Communications Stock Down 0.4 %

Shares of NYSE RCI traded down $0.09 during trading on Friday, hitting $25.15. 1,048,917 shares of the company traded hands, compared to its average volume of 1,014,917. 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 business's fifty day moving average is $26.74 and its 200 day moving average is $30.82. The firm has a market capitalization of $13.48 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $41.84.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.02). Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $4.96 billion. Equities research analysts predict that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be paid a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date is Monday, June 9th. This is a positive change from Rogers Communications's previous quarterly dividend of $0.35. Rogers Communications's payout ratio is 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.