QV Investors Inc. Takes $12.65 Million Position in Rogers Communications Inc. (NYSE:RCI)

QV Investors Inc. bought a new position in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 411,693 shares of the Wireless communications provider's stock, valued at approximately $12,650,000. Rogers Communications comprises about 1.3% of QV Investors Inc.'s investment portfolio, making the stock its 27th largest holding. QV Investors Inc. owned about 0.08% of Rogers Communications at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cromwell Holdings LLC acquired a new position in shares of Rogers Communications during the 3rd quarter worth $31,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Rogers Communications by 110.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider's stock valued at $37,000 after acquiring an additional 522 shares during the last quarter. Grove Bank & Trust raised its stake in shares of Rogers Communications by 41.0% in the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider's stock valued at $42,000 after acquiring an additional 302 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Rogers Communications in the 2nd quarter worth approximately $55,000. Finally, Nexus Investment Management ULC acquired a new position in Rogers Communications during the third quarter valued at approximately $203,000. Institutional investors and hedge funds own 45.49% of the company's stock.

Analyst Ratings Changes

RCI has been the subject of a number of analyst reports. Morgan Stanley began coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an "underweight" rating for the company. TD Securities upped their target price on Rogers Communications from $73.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Finally, BMO Capital Markets boosted their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $61.75.

Rogers Communications Trading Up 1.2 %

RCI traded up $0.34 during trading on Monday, reaching $29.34. 1,002,405 shares of the company's stock were exchanged, compared to its average volume of 1,010,229. The company's fifty day moving average price is $33.62 and its 200-day moving average price is $36.99. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The firm has a market capitalization of $15.68 billion, a PE ratio of 14.31, a P/E/G ratio of 1.06 and a beta of 0.69. Rogers Communications Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $48.19.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.35. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The business's revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the business posted $0.95 earnings per share. As a group, equities analysts forecast that Rogers Communications Inc. will post 3.56 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend was Monday, December 9th. Rogers Communications's dividend payout ratio is 68.78%.

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.