JPMorgan Chase & Co. Trims Stock Position in Rogers Communications Inc. (NYSE:RCI)

JPMorgan Chase & Co. decreased its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,634,338 shares of the Wireless communications provider's stock after selling 94,498 shares during the period. JPMorgan Chase & Co. owned 0.31% of Rogers Communications worth $50,223,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RCI. National Bank of Canada FI boosted its stake in shares of Rogers Communications by 18.6% in the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider's stock worth $250,886,000 after acquiring an additional 977,924 shares during the period. Hillsdale Investment Management Inc. raised its position in Rogers Communications by 5,526.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 591,944 shares of the Wireless communications provider's stock valued at $18,177,000 after purchasing an additional 581,424 shares during the period. QV Investors Inc. purchased a new stake in Rogers Communications during the fourth quarter valued at approximately $12,650,000. Assenagon Asset Management S.A. purchased a new stake in shares of Rogers Communications in the fourth quarter worth approximately $12,019,000. Finally, Scheer Rowlett & Associates Investment Management Ltd. grew its stake in Rogers Communications by 24.1% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,443,877 shares of the Wireless communications provider's stock worth $44,330,000 after purchasing an additional 280,779 shares in the last quarter. Institutional investors own 45.49% of the company's stock.

Rogers Communications Stock Performance

Shares of NYSE RCI traded down $0.46 during trading on Thursday, reaching $23.82. 239,511 shares of the company traded hands, compared to its average volume of 1,168,262. The firm's fifty day simple moving average is $27.29 and its 200 day simple moving average is $31.87. The stock has a market cap of $12.77 billion, a P/E ratio of 10.27, a PEG ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a 12-month low of $23.32 and a 12-month high of $41.84. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted 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, research analysts anticipate that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th were given a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date was Monday, March 10th. Rogers Communications's dividend payout ratio (DPR) is presently 59.48%.

Analysts Set New Price Targets

Several research analysts recently issued reports on RCI shares. Morgan Stanley started coverage on Rogers Communications in a research note on Monday, December 16th. They issued an "underweight" rating on the stock. Barclays reaffirmed an "equal weight" rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Bank of America cut Rogers Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Scotiabank lowered Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. Finally, Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating in a report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Rogers Communications has an average rating of "Hold" and an average target price of $61.75.

Rogers Communications 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.