Mufg Securities Canada LTD. Acquires 240,170 Shares of Rogers Communications Inc. (NYSE:RCI)

Mufg Securities Canada LTD. grew its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 71.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 576,975 shares of the Wireless communications provider’s stock after buying an additional 240,170 shares during the quarter. Mufg Securities Canada LTD.’s holdings in Rogers Communications were worth $17,726,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RCI. Lindbrook Capital LLC boosted its holdings in shares of Rogers Communications by 95.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock valued at $47,000 after buying an additional 744 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of 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 purchasing an additional 1,052 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Rogers Communications by 19.1% in 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 during the period. Y Intercept Hong Kong Ltd acquired a new stake in Rogers Communications in the 3rd quarter valued at about $206,000. Finally, Tidal Investments LLC acquired a new position in Rogers Communications during the third quarter worth approximately $248,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Trading Up 1.3 %

Shares of Rogers Communications stock opened at $27.43 on Wednesday. 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 50-day moving average of $28.01 and a 200-day moving average of $33.10. Rogers Communications Inc. has a 52-week low of $26.57 and a 52-week high of $41.84. The stock has a market cap of $14.71 billion, a PE ratio of 11.82, a PEG ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. As a group, sell-side analysts forecast that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be given a dividend of $0.347 per share. The ex-dividend date is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.06%. Rogers Communications’s payout ratio is 59.48%.

Analyst Upgrades and Downgrades

RCI has been the subject of a number of recent analyst reports. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Bank of America downgraded shares of Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley initiated coverage on shares of Rogers Communications in a research note on Monday, December 16th. They set an “underweight” rating for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.