Rogers Communications Inc. (NYSE:RCI) Position Decreased by Korea Investment CORP

Korea Investment CORP trimmed its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 53.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 160,945 shares of the Wireless communications provider's stock after selling 186,500 shares during the quarter. Korea Investment CORP's holdings in Rogers Communications were worth $4,945,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RCI. Charles Schwab Investment Management Inc. lifted its position in Rogers Communications by 106.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider's stock valued at $5,383,000 after acquiring an additional 68,971 shares during the period. FMR LLC lifted its stake in shares of Rogers Communications by 2.8% in the 3rd quarter. FMR LLC now owns 2,496,298 shares of the Wireless communications provider's stock valued at $100,372,000 after purchasing an additional 68,759 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Rogers Communications by 107.3% in the third quarter. BNP Paribas Financial Markets now owns 37,436 shares of the Wireless communications provider's stock worth $1,505,000 after purchasing an additional 19,378 shares during the last quarter. PEAK6 Investments LLC bought a new stake in Rogers Communications during the 3rd quarter valued at about $305,000. Finally, Verition Fund Management LLC raised its position in Rogers Communications by 7.9% during the 3rd quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider's stock valued at $301,000 after purchasing an additional 551 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have recently commented on RCI. Barclays reiterated an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Morgan Stanley initiated coverage on shares of Rogers Communications in a research note on Monday, December 16th. They set an "underweight" rating on the stock. Bank of America downgraded shares of Rogers Communications from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday. Finally, Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $61.75.

Rogers Communications Trading Down 0.9 %

Shares of NYSE:RCI traded down $0.22 during trading on Friday, reaching $25.85. The stock had a trading volume of 1,200,763 shares, compared to its average volume of 980,295. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. The stock has a market cap of $13.86 billion, a P/E ratio of 11.19, a PEG ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a fifty-two week low of $24.76 and a fifty-two week high of $41.84. The business has a fifty day moving average price of $27.78 and a 200-day moving average price of $32.53.

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 for the quarter, topping 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 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 declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th were issued a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date was Monday, March 10th. Rogers Communications's dividend payout ratio (DPR) is 59.48%.

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.