Renaissance Technologies LLC Sells 323,200 Shares of Rogers Communications Inc. (NYSE:RCI)

Renaissance Technologies LLC cut its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 67.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,230 shares of the Wireless communications provider's stock after selling 323,200 shares during the period. Renaissance Technologies LLC's holdings in Rogers Communications were worth $4,862,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RCI. FIL Ltd grew its stake in shares of Rogers Communications by 7.2% in the 4th quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock worth $1,028,336,000 after purchasing an additional 2,244,240 shares during the last quarter. Avanza Fonder AB acquired a new position in Rogers Communications in the fourth quarter worth approximately $718,000. Northwest & Ethical Investments L.P. increased its holdings in shares of Rogers Communications by 180.9% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 344,131 shares of the Wireless communications provider's stock valued at $10,560,000 after buying an additional 221,628 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Rogers Communications by 57.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 210,133 shares of the Wireless communications provider's stock valued at $6,457,000 after acquiring an additional 76,373 shares during the last quarter. Finally, Louisbourg Investments Inc. boosted its stake in shares of Rogers Communications by 18.9% during the 4th quarter. Louisbourg Investments Inc. now owns 246,470 shares of the Wireless communications provider's stock worth $7,573,000 after acquiring an additional 39,156 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communications Stock Down 1.3 %

Shares of NYSE RCI traded down $0.32 during mid-day trading on Wednesday, reaching $25.09. The company had a trading volume of 1,503,767 shares, compared to its average volume of 1,020,567. The stock has a fifty day moving average of $26.85 and a two-hundred day moving average of $30.96. 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 $13.45 billion, a price-to-earnings ratio of 10.81, a PEG 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 released its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. As a group, equities research analysts expect that Rogers Communications Inc. will post 3.57 EPS 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 given a dividend of $0.347 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a yield of 5.53%. Rogers Communications's payout ratio is 59.48%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Barclays reaffirmed an "equal weight" rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Canaccord Genuity Group upgraded 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 report on Tuesday, January 14th. Finally, Scotiabank downgraded shares of Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Rogers Communications currently has a consensus rating of "Hold" and a consensus price target 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.