Louisbourg Investments Inc. Buys 39,156 Shares of Rogers Communications Inc. (NYSE:RCI)

Louisbourg Investments Inc. lifted its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 18.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 246,470 shares of the Wireless communications provider’s stock after buying an additional 39,156 shares during the period. Rogers Communications comprises about 1.8% of Louisbourg Investments Inc.’s holdings, making the stock its 15th largest position. Louisbourg Investments Inc.’s holdings in Rogers Communications were worth $7,573,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in shares of 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 acquiring an additional 3,980,525 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Rogers Communications by 90.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock valued at $115,775,000 after purchasing an additional 1,375,043 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Rogers Communications by 86.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock worth $104,965,000 after buying an additional 1,211,482 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Rogers Communications by 18.6% during the 3rd quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after purchasing an additional 977,924 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Rogers Communications by 1,046.8% during the 3rd 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 period. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Trading Up 1.9 %

NYSE RCI opened at $27.43 on Wednesday. The stock’s 50 day moving average is $30.19 and its 200 day moving average is $35.60. The firm has a market capitalization of $14.66 billion, a PE ratio of 11.82, a P/E/G ratio of 1.37 and a beta of 0.68. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. Rogers Communications Inc. has a twelve month low of $26.57 and a twelve month high of $46.01.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS 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%. Research analysts forecast that Rogers Communications Inc. will post 3.58 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business 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 $0.347 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.39 annualized dividend and a dividend yield of 5.06%. Rogers Communications’s dividend payout ratio (DPR) is 60.78%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Morgan Stanley started coverage on 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 report on Tuesday, January 14th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Rogers Communications currently has a consensus rating of “Hold” and an average price target of $61.75.

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.