Quantbot Technologies LP Purchases 45,028 Shares of Rogers Communications Inc. (NYSE:RCI)

Quantbot Technologies LP increased its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 580.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,780 shares of the Wireless communications provider’s stock after purchasing an additional 45,028 shares during the period. Quantbot Technologies LP’s holdings in Rogers Communications were worth $2,164,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. FIL Ltd raised its position in Rogers Communications by 13.7% in the 4th 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. Canoe Financial LP raised its position in Rogers Communications by 1,575.9% in the 4th quarter. Canoe Financial LP now owns 15,903,262 shares of the Wireless communications provider’s stock valued at $744,432,000 after buying an additional 14,954,351 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Rogers Communications by 10.2% during the 4th 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 purchasing an additional 1,177,264 shares during the last quarter. TD Asset Management Inc increased its position in shares of Rogers Communications by 27.3% during the 4th quarter. TD Asset Management Inc now owns 11,074,702 shares of the Wireless communications provider’s stock valued at $520,980,000 after purchasing an additional 2,372,306 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Rogers Communications by 3.1% during the 4th quarter. Mackenzie Financial Corp now owns 9,433,774 shares of the Wireless communications provider’s stock valued at $441,843,000 after purchasing an additional 285,730 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Rogers Communications Price Performance

NYSE RCI traded up $0.26 during trading hours on Friday, hitting $37.29. The company had a trading volume of 653,157 shares, compared to its average volume of 716,243. Rogers Communications Inc. has a 52 week low of $35.55 and a 52 week high of $48.19. The firm has a 50 day simple moving average of $38.42 and a 200 day simple moving average of $41.84. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.72 and a current ratio of 0.77. The firm has a market capitalization of $19.76 billion, a price-to-earnings ratio of 46.54, a PEG ratio of 0.98 and a beta of 0.68.

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

Rogers Communications Cuts Dividend

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

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.