Pictet Asset Management Holding SA Has $5.61 Million Stake in Rogers Communications Inc. (NYSE:RCI)

Pictet Asset Management Holding SA raised its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 19.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 182,728 shares of the Wireless communications provider's stock after purchasing an additional 30,015 shares during the period. Pictet Asset Management Holding SA's holdings in Rogers Communications were worth $5,614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. National Bank of Canada FI raised its stake in shares of Rogers Communications by 18.6% during the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider's stock worth $250,886,000 after buying an additional 977,924 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in shares of Rogers Communications by 5,526.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 591,944 shares of the Wireless communications provider's stock valued at $18,177,000 after acquiring an additional 581,424 shares during the last quarter. QV Investors Inc. bought a new stake in shares of Rogers Communications during the 4th quarter valued at $12,650,000. Assenagon Asset Management S.A. acquired a new position in shares of Rogers Communications in the 4th quarter valued at $12,019,000. Finally, Scheer Rowlett & Associates Investment Management Ltd. boosted its position in shares of Rogers Communications by 24.1% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,443,877 shares of the Wireless communications provider's stock worth $44,330,000 after purchasing an additional 280,779 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on RCI. Morgan Stanley initiated coverage on Rogers Communications in a report on Monday, December 16th. They issued an "underweight" rating for the company. Barclays reaffirmed an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Scotiabank lowered shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research note 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. Finally, Bank of America cut shares of Rogers Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $61.75.

Rogers Communications Stock Down 3.2 %

Shares of Rogers Communications stock traded down $0.79 on Tuesday, hitting $23.94. The company had a trading volume of 1,664,169 shares, compared to its average volume of 994,597. The stock has a 50-day moving average of $27.44 and a 200-day moving average of $32.04. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. Rogers Communications Inc. has a twelve month low of $23.73 and a twelve month high of $41.84. The firm has a market capitalization of $12.83 billion, a P/E ratio of 10.32, 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 posted 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 net margin of 8.40% and a return on equity of 25.19%. Research analysts predict that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 10th were issued a dividend of $0.347 per share. The ex-dividend date was Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.80%. Rogers Communications's payout ratio is presently 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.