First Trust Advisors LP Purchases 447,738 Shares of Rogers Communications Inc. (NYSE:RCI)

First Trust Advisors LP raised its position in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,860,669 shares of the Wireless communications provider's stock after acquiring an additional 447,738 shares during the period. First Trust Advisors LP owned approximately 0.54% of Rogers Communications worth $87,909,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its stake in shares of Rogers Communications by 95.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock valued at $47,000 after buying an additional 744 shares during the period. Jones Financial Companies Lllp boosted its position in Rogers Communications by 141.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock valued at $55,000 after buying an additional 1,052 shares in the last quarter. Headlands Technologies LLC boosted its holdings in shares of Rogers Communications by 274.2% in the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock worth $163,000 after acquiring an additional 3,888 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in 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 valued at $178,000 after purchasing an additional 930 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in Rogers Communications in the 3rd quarter valued at $248,000. 45.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RCI. Canaccord Genuity Group raised 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 research report on Tuesday, January 14th. Scotiabank downgraded Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. Finally, Barclays reissued an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $67.00.

Rogers Communications Stock Down 0.4 %

NYSE RCI traded down $0.09 during trading on Friday, hitting $25.15. The stock had a trading volume of 1,048,917 shares, 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. Rogers Communications Inc. has a 12 month low of $23.18 and a 12 month high of $41.84. The company has a market capitalization of $13.48 billion, a PE ratio of 10.84, a P/E/G ratio of 1.43 and a beta of 0.67. The company's 50-day moving average price is $26.74 and its two-hundred day moving average price is $30.82.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last issued 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). The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $4.96 billion. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. As a group, sell-side analysts forecast that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Increases Dividend

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