Connor Clark & Lunn Investment Management Ltd. Has $104.97 Million Position in Rogers Communications Inc. (NYSE:RCI)

Connor Clark & Lunn Investment Management Ltd. raised its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 86.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,610,833 shares of the Wireless communications provider's stock after buying an additional 1,211,482 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.49% of Rogers Communications worth $104,965,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RCI. PCJ Investment Counsel Ltd. boosted its stake in shares of Rogers Communications by 2.9% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 247,530 shares of the Wireless communications provider's stock worth $9,952,000 after purchasing an additional 7,050 shares during the last quarter. Swiss National Bank boosted its stake in shares of Rogers Communications by 0.8% during the 3rd quarter. Swiss National Bank now owns 1,080,000 shares of the Wireless communications provider's stock worth $43,494,000 after acquiring an additional 8,400 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Rogers Communications by 16.6% in the third quarter. Natixis Advisors LLC now owns 24,948 shares of the Wireless communications provider's stock worth $1,003,000 after purchasing an additional 3,547 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Rogers Communications by 10.5% during the 3rd quarter. CIBC Asset Management Inc now owns 1,673,110 shares of the Wireless communications provider's stock valued at $67,301,000 after acquiring an additional 159,295 shares during the last quarter. Finally, MQS Management LLC acquired a new stake in shares of Rogers Communications in the 3rd quarter valued at $726,000. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communications Stock Down 1.4 %

Shares of Rogers Communications stock traded down $0.50 during trading hours on Wednesday, hitting $35.29. The company had a trading volume of 597,073 shares, compared to its average volume of 765,001. The company has a market cap of $18.80 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.11 and a beta of 0.69. Rogers Communications Inc. has a twelve month low of $35.17 and a twelve month high of $48.19. The company's 50-day moving average is $38.30 and its two-hundred day moving average is $38.63. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The company had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $3.79 billion. During the same quarter in the previous year, the business earned $0.95 EPS. The firm's revenue was up .7% on a year-over-year basis. Analysts anticipate that Rogers Communications Inc. will post 3.55 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $0.3611 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications's dividend payout ratio (DPR) is presently 72.20%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RCI. Canaccord Genuity Group cut Rogers Communications from a "buy" rating to a "hold" rating in a research report on Thursday, July 25th. BMO Capital Markets upped their price objective on Rogers Communications from $67.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, September 19th. Canaccord Genuity Group reissued a "hold" rating and issued a $57.00 price target (down from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th. Finally, TD Securities increased their price objective on Rogers Communications from $73.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" 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.