FIL Ltd Purchases 2,244,240 Shares of Rogers Communications Inc. (NYSE:RCI)

FIL Ltd lifted its position in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,450,577 shares of the Wireless communications provider's stock after purchasing an additional 2,244,240 shares during the period. Rogers Communications accounts for approximately 1.0% of FIL Ltd's portfolio, making the stock its 19th largest position. FIL Ltd owned 6.26% of Rogers Communications worth $1,028,336,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RCI. Russell Investments Group Ltd. increased its stake in shares of Rogers Communications by 14.4% during the fourth quarter. Russell Investments Group Ltd. now owns 209,113 shares of the Wireless communications provider's stock valued at $6,413,000 after buying an additional 26,319 shares during the period. Prudential PLC lifted its position 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 worth $268,000 after purchasing an additional 1,552 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Rogers Communications by 0.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,914,155 shares of the Wireless communications provider's stock valued at $89,552,000 after purchasing an additional 17,666 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Rogers Communications by 274.2% during the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock valued at $163,000 after buying an additional 3,888 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Rogers Communications by 31.5% during the fourth quarter. Geode Capital Management LLC now owns 2,149,482 shares of the Wireless communications provider's stock valued at $67,040,000 after purchasing an additional 515,501 shares in the last quarter. 45.49% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RCI. Canaccord Genuity Group upgraded shares of Rogers Communications from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Scotiabank cut shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. Morgan Stanley started coverage on shares of Rogers Communications in a research note on Monday, December 16th. They set an "underweight" rating for the company. Barclays reissued an "equal weight" rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Finally, Bank of America lowered Rogers Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $67.00.

Rogers Communications Stock Up 3.6 %

RCI stock traded up $0.85 during midday trading on Friday, hitting $24.39. The company's stock had a trading volume of 1,662,738 shares, compared to its average volume of 1,013,214. The company 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 firm's 50-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 current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings data 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 return on equity of 25.19% and a net margin of 8.40%. On average, equities research 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 announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 10th were issued a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 5.69%. The ex-dividend date of this dividend was Monday, March 10th. Rogers Communications's dividend payout ratio is currently 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.