Connor Clark & Lunn Investment Management Ltd. Reduces Holdings in Rogers Communications Inc. (NYSE:RCI)

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 81.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 488,803 shares of the Wireless communications provider's stock after selling 2,122,030 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of Rogers Communications worth $15,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lindbrook Capital LLC lifted its position in shares of Rogers Communications by 95.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock worth $47,000 after acquiring an additional 744 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Rogers Communications by 141.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock worth $55,000 after acquiring an additional 1,052 shares during the period. V Square Quantitative Management LLC grew its position in shares of Rogers Communications by 19.1% during the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock valued at $178,000 after purchasing an additional 930 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Rogers Communications in the third quarter worth $206,000. Finally, Tidal Investments LLC purchased a new position in Rogers Communications during the third quarter worth about $248,000. Institutional investors own 45.49% of the company's stock.

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Rogers Communications Trading Up 0.4 %

RCI traded up $0.11 on Friday, hitting $27.96. 561,421 shares of the company were exchanged, compared to its average volume of 869,289. 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 firm has a fifty day simple moving average of $28.31 and a two-hundred day simple moving average of $33.84. The stock has a market capitalization of $14.94 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a 12 month low of $26.57 and a 12 month high of $42.96.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts expect 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 will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be paid a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a dividend yield of 4.96%. The ex-dividend date is Monday, March 10th. Rogers Communications's dividend payout ratio (DPR) is 59.48%.

Analyst Upgrades and Downgrades

RCI has been the topic of several research analyst reports. Barclays restated an "equal weight" rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Morgan Stanley began coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an "underweight" rating on the stock. Finally, Bank of America downgraded shares of Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock 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.