Mufg Securities Canada LTD. Raises Stock Position in Rogers Communications Inc. (NYSE:RCI)

Mufg Securities Canada LTD. boosted its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 71.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 576,975 shares of the Wireless communications provider's stock after purchasing an additional 240,170 shares during the quarter. Mufg Securities Canada LTD. owned about 0.11% of Rogers Communications worth $17,726,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in Rogers Communications by 371.0% in the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider's stock valued at $203,334,000 after purchasing an additional 3,980,525 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Rogers Communications by 106.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider's stock valued at $5,383,000 after buying an additional 68,971 shares in the last quarter. Avanza Fonder AB acquired a new position in Rogers Communications during the 4th quarter worth approximately $718,000. Northwest & Ethical Investments L.P. raised its stake in Rogers Communications by 180.9% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 344,131 shares of the Wireless communications provider's stock worth $10,560,000 after buying an additional 221,628 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Rogers Communications by 1,046.8% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider's stock worth $24,101,000 after acquiring an additional 547,201 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

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Rogers Communications Stock Performance

RCI stock traded down $0.49 during mid-day trading on Friday, hitting $27.28. The company had a trading volume of 840,237 shares, compared to its average volume of 967,939. Rogers Communications Inc. has a 12 month low of $26.57 and a 12 month high of $41.84. The stock's fifty day moving average price is $27.97 and its two-hundred day moving average price is $32.88. The firm has a market cap of $14.62 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. 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 (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 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, analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be paid a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications's dividend payout ratio is currently 59.48%.

Wall Street Analyst Weigh In

A number of analysts have commented on RCI shares. Morgan Stanley assumed coverage on shares of Rogers Communications in a research note on Monday, December 16th. They set an "underweight" rating for the company. Barclays restated an "equal weight" rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Bank of America lowered Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" 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.