Franklin Resources Inc. Has $721,000 Stock Holdings in Rogers Communications Inc. (NYSE:RCI)

Franklin Resources Inc. lifted its stake in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 115.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,467 shares of the Wireless communications provider's stock after acquiring an additional 12,567 shares during the quarter. Franklin Resources Inc.'s holdings in Rogers Communications were worth $721,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Rogers Communications by 95.6% in the 4th quarter. Wellington Management Group LLP now owns 43,424 shares of the Wireless communications provider's stock valued at $1,334,000 after acquiring an additional 21,226 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Rogers Communications by 123.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock valued at $206,565,000 after purchasing an additional 3,717,487 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Rogers Communications by 19.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 182,728 shares of the Wireless communications provider's stock worth $5,614,000 after buying an additional 30,015 shares in the last quarter. Mufg Securities Canada LTD. increased its holdings in shares of Rogers Communications by 71.3% in the 4th quarter. Mufg Securities Canada LTD. now owns 576,975 shares of the Wireless communications provider's stock worth $17,726,000 after buying an additional 240,170 shares during the last quarter. Finally, Guardian Partners Inc. purchased a new stake in shares of Rogers Communications during the 4th quarter valued at about $8,554,000. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Stock Performance

Shares of RCI traded up $0.81 during trading hours on Friday, reaching $25.90. 1,035,924 shares of the company traded hands, compared to its average volume of 1,018,573. 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 business has a fifty day moving average price of $26.95 and a 200-day moving average price of $31.20. Rogers Communications Inc. has a 12-month low of $23.18 and a 12-month high of $41.84. The stock has a market capitalization of $13.88 billion, a P/E ratio of 11.16, a P/E/G ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping 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%. Equities analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th were paid a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend was Monday, March 10th. Rogers Communications's dividend payout ratio (DPR) is currently 59.48%.

Analyst Ratings Changes

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

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.