Charles Schwab Investment Management Inc. Acquires 76,373 Shares of Rogers Communications Inc. (NYSE:RCI)

Charles Schwab Investment Management Inc. increased its position in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 57.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 210,133 shares of the Wireless communications provider's stock after buying an additional 76,373 shares during the period. Charles Schwab Investment Management Inc.'s holdings in Rogers Communications were worth $6,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in Rogers Communications by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock worth $55,000 after purchasing an additional 1,052 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Rogers Communications during the 3rd quarter worth about $206,000. V Square Quantitative Management LLC boosted its holdings in shares of Rogers Communications by 19.1% during the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock worth $178,000 after buying an additional 930 shares during the period. Tidal Investments LLC acquired a new position in Rogers Communications in the 3rd quarter valued at about $248,000. Finally, Verition Fund Management LLC raised its holdings in Rogers Communications by 7.9% in the 3rd quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider's stock valued at $301,000 after acquiring an additional 551 shares during the period. 45.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Rogers Communications Price Performance

Shares of NYSE:RCI traded down $0.49 during trading on Friday, reaching $27.28. 840,237 shares of the company traded hands, compared to its average volume of 967,617. The firm has a market capitalization of $14.62 billion, a PE ratio of 11.76, a PEG ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a 52 week low of $26.57 and a 52 week high of $41.84. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. The company's 50 day moving average is $27.98 and its two-hundred day moving average is $33.03.

Rogers Communications (NYSE:RCI - Get Free Report) 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, topping 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 predict that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be given a dividend of $0.347 per share. The ex-dividend date is Monday, March 10th. This represents a $1.39 annualized dividend and a dividend yield of 5.09%. Rogers Communications's dividend 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.