Headlands Technologies LLC Grows Stock Holdings in Rogers Communications Inc. (NYSE:RCI)

Headlands Technologies LLC raised its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 274.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,306 shares of the Wireless communications provider’s stock after buying an additional 3,888 shares during the period. Headlands Technologies LLC’s holdings in Rogers Communications were worth $163,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of RCI. Geode Capital Management LLC raised its holdings in Rogers Communications by 31.5% during the fourth quarter. Geode Capital Management LLC now owns 2,149,482 shares of the Wireless communications provider’s stock worth $67,040,000 after purchasing an additional 515,501 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Rogers Communications by 115.3% during the 4th quarter. Franklin Resources Inc. now owns 23,467 shares of the Wireless communications provider’s stock worth $721,000 after buying an additional 12,567 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Rogers Communications by 95.6% in the 4th quarter. Wellington Management Group LLP now owns 43,424 shares of the Wireless communications provider’s stock worth $1,334,000 after buying an additional 21,226 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Rogers Communications by 123.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider’s stock valued at $206,565,000 after acquiring an additional 3,717,487 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in Rogers Communications by 19.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 182,728 shares of the Wireless communications provider’s stock valued at $5,614,000 after acquiring an additional 30,015 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Stock Down 0.9 %

Shares of NYSE:RCI opened at $25.85 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The firm has a market cap of $13.86 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.43 and a beta of 0.67. The stock’s 50-day moving average price is $27.72 and its two-hundred day moving average price is $32.37. Rogers Communications Inc. has a 12-month low of $24.76 and a 12-month high of $41.84.

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

Rogers Communications Cuts Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.37%. Rogers Communications’s payout ratio is 59.48%.

Wall Street Analyst Weigh In

Several analysts have issued reports 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. Scotiabank cut Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, April 1st. Canaccord Genuity Group raised Rogers Communications from a “hold” rating to a “buy” rating in a report on Friday. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Finally, Morgan Stanley assumed coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating for the company. One investment 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, Rogers Communications has a consensus 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.