Rogers Communications Inc. (NYSE:RCI) Shares Acquired by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co boosted its position in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 30.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 317,971 shares of the Wireless communications provider's stock after acquiring an additional 73,618 shares during the period. Rogers Communications comprises approximately 1.9% of DORCHESTER WEALTH MANAGEMENT Co's holdings, making the stock its 17th biggest holding. DORCHESTER WEALTH MANAGEMENT Co owned 0.06% of Rogers Communications worth $9,693,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its holdings 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 during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Rogers Communications by 90.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider's stock worth $115,775,000 after buying an additional 1,375,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Rogers Communications by 86.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider's stock valued at $104,965,000 after acquiring an additional 1,211,482 shares during the last quarter. National Bank of Canada FI grew its position in 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 valued at $250,886,000 after acquiring an additional 977,924 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Rogers Communications by 1,046.8% during 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 during the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

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Rogers Communications Stock Down 0.6 %

RCI traded down $0.17 during trading hours on Wednesday, reaching $28.26. 897,934 shares of the stock traded hands, compared to its average volume of 1,103,382. Rogers Communications Inc. has a fifty-two week low of $26.57 and a fifty-two week high of $45.25. The company has a market cap of $15.10 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.43 and a beta of 0.68. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The firm's fifty day simple moving average is $28.99 and its two-hundred day simple moving average is $34.85.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its earnings results 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%. As a group, analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be issued a dividend of $0.347 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.39 annualized dividend and a yield of 4.91%. Rogers Communications's dividend payout ratio is presently 59.05%.

Wall Street Analysts Forecast Growth

RCI has been the subject of a number of research analyst reports. Bank of America downgraded shares of Rogers Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Barclays reissued an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Finally, Morgan Stanley began coverage on Rogers Communications in a report on Monday, December 16th. They issued an "underweight" rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Rogers Communications has an average rating of "Hold" and an average target price of $61.75.

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.