Clearbridge Investments LLC Sells 630 Shares of Rogers Communications Inc. (NYSE:RCI)

Clearbridge Investments LLC decreased its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 4.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,850 shares of the Wireless communications provider’s stock after selling 630 shares during the quarter. Clearbridge Investments LLC’s holdings in Rogers Communications were worth $426,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Lindbrook Capital LLC raised its stake in shares of Rogers Communications by 95.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock worth $47,000 after purchasing an additional 744 shares during the last quarter. Jones Financial Companies Lllp raised its position in Rogers Communications by 141.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock valued at $55,000 after buying an additional 1,052 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Rogers Communications in the 3rd quarter valued at $206,000. V Square Quantitative Management LLC lifted its stake in Rogers Communications by 19.1% during 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 acquiring an additional 930 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in Rogers Communications during the 3rd quarter worth $248,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Price Performance

Shares of NYSE RCI opened at $26.06 on Friday. The stock has a fifty day simple moving average of $27.78 and a two-hundred day simple moving average of $32.53. Rogers Communications Inc. has a 1-year low of $24.76 and a 1-year high of $41.84. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data 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 net margin of 8.40% and a return on equity of 25.19%. Analysts anticipate that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th were given a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend was Monday, March 10th. Rogers Communications’s dividend payout ratio is presently 59.48%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley began coverage on shares of Rogers Communications in a report on Monday, December 16th. They issued an “underweight” rating for the company. Barclays restated an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Bank of America lowered Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Finally, Scotiabank lowered Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.