Quantbot Technologies LP Boosts Stock Holdings in Rogers Communications Inc. (NYSE:RCI)

Quantbot Technologies LP increased its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 580.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,780 shares of the Wireless communications provider’s stock after acquiring an additional 45,028 shares during the quarter. Quantbot Technologies LP’s holdings in Rogers Communications were worth $2,164,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canoe Financial LP grew its holdings in shares of Rogers Communications by 1,575.9% during the fourth quarter. Canoe Financial LP now owns 15,903,262 shares of the Wireless communications provider’s stock worth $744,432,000 after buying an additional 14,954,351 shares in the last quarter. FIL Ltd lifted its position in Rogers Communications by 13.7% in the fourth quarter. FIL Ltd now owns 36,514,749 shares of the Wireless communications provider’s stock valued at $1,709,377,000 after buying an additional 4,405,888 shares during the last quarter. TD Asset Management Inc lifted its position in Rogers Communications by 27.3% in the fourth quarter. TD Asset Management Inc now owns 11,074,702 shares of the Wireless communications provider’s stock valued at $520,980,000 after buying an additional 2,372,306 shares during the last quarter. 1832 Asset Management L.P. lifted its position in Rogers Communications by 10.2% in the fourth quarter. 1832 Asset Management L.P. now owns 12,707,709 shares of the Wireless communications provider’s stock valued at $594,848,000 after buying an additional 1,177,264 shares during the last quarter. Finally, AGF Management Ltd. lifted its position in Rogers Communications by 46.8% in the fourth quarter. AGF Management Ltd. now owns 3,310,984 shares of the Wireless communications provider’s stock valued at $171,242,000 after buying an additional 1,055,707 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Up 0.7 %

NYSE:RCI traded up $0.26 during mid-day trading on Friday, hitting $37.29. The stock had a trading volume of 653,157 shares, compared to its average volume of 716,243. The stock has a 50-day simple moving average of $38.42 and a two-hundred day simple moving average of $41.84. The company has a market capitalization of $19.76 billion, a PE ratio of 46.54, a PEG ratio of 0.98 and a beta of 0.68. Rogers Communications Inc. has a twelve month low of $35.55 and a twelve month high of $48.19. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. On average, equities research analysts anticipate that Rogers Communications Inc. will post 3.66 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Monday, June 10th were issued a $0.3658 dividend. The ex-dividend date was Monday, June 10th. This represents a $1.46 annualized dividend and a yield of 3.92%. Rogers Communications’s dividend payout ratio (DPR) is 183.75%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RCI shares. StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday. Barclays reduced their price target on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Rogers Communications currently has an average rating of “Moderate Buy” and a consensus target price of $46.00.

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.