Russell Investments Group Ltd. Buys 26,319 Shares of Rogers Communications Inc. (NYSE:RCI)

Russell Investments Group Ltd. grew its position in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 14.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,113 shares of the Wireless communications provider's stock after purchasing an additional 26,319 shares during the period. Russell Investments Group Ltd.'s holdings in Rogers Communications were worth $6,413,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in RCI. Avanza Fonder AB purchased a new stake in shares of Rogers Communications during the fourth quarter valued at approximately $718,000. Northwest & Ethical Investments L.P. increased its holdings in Rogers Communications by 180.9% during the fourth 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 last quarter. Charles Schwab Investment Management Inc. raised its position in Rogers Communications by 57.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 210,133 shares of the Wireless communications provider's stock worth $6,457,000 after acquiring an additional 76,373 shares during the period. Louisbourg Investments Inc. increased 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 purchasing an additional 39,156 shares during the last quarter. Finally, QV Investors Inc. bought a new stake in shares of Rogers Communications in the 4th quarter worth approximately $12,650,000. 45.49% of the stock is owned by institutional investors.

Rogers Communications Price Performance

RCI traded up $0.81 on Friday, reaching $25.90. The company had a trading volume of 1,035,924 shares, compared to its average volume of 1,018,305. Rogers Communications Inc. has a 52-week low of $23.18 and a 52-week high of $41.84. The company has a market cap of $13.88 billion, a price-to-earnings ratio of 11.16, a P/E/G 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. The business has a 50 day simple moving average of $26.95 and a 200 day simple moving average of $31.20.

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 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. As a group, sell-side analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend was Monday, March 10th. Rogers Communications's dividend payout ratio (DPR) is presently 59.48%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RCI. Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Barclays reiterated an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. 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 cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. One research 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.com, Rogers Communications has an average rating of "Hold" and an average target price of $67.00.

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.