Rogers Communications Inc. (NYSE:RCI) Shares Sold by Korea Investment CORP

Korea Investment CORP reduced its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 53.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,945 shares of the Wireless communications provider’s stock after selling 186,500 shares during the period. Korea Investment CORP’s holdings in Rogers Communications were worth $4,945,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RCI. Charles Schwab Investment Management Inc. boosted its position in Rogers Communications by 106.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider’s stock worth $5,383,000 after acquiring an additional 68,971 shares during the last quarter. Avanza Fonder AB purchased a new stake in shares of Rogers Communications in the fourth quarter valued at $718,000. Northwest & Ethical Investments L.P. grew its position in shares of Rogers Communications by 180.9% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 344,131 shares of the Wireless communications provider’s stock valued at $10,560,000 after purchasing an additional 221,628 shares during the period. Louisbourg Investments Inc. lifted its position in Rogers Communications by 18.9% during the fourth quarter. Louisbourg Investments Inc. now owns 246,470 shares of the Wireless communications provider’s stock worth $7,573,000 after buying an additional 39,156 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in Rogers Communications by 107.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 37,436 shares of the Wireless communications provider’s stock worth $1,505,000 after buying an additional 19,378 shares during the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communications Stock Performance

Shares of RCI stock opened at $26.71 on Tuesday. 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 company has a market cap of $14.32 billion, a PE ratio of 11.51, a P/E/G ratio of 1.43 and a beta of 0.67. The company’s fifty day simple moving average is $27.94 and its 200-day simple moving average is $32.74. Rogers Communications Inc. has a 52 week low of $26.57 and a 52 week high of $41.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. As a group, equities research analysts anticipate 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 will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be given a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 5.20%. The ex-dividend date is Monday, March 10th. Rogers Communications’s dividend payout ratio (DPR) is 59.48%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RCI shares. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Morgan Stanley began coverage on shares of Rogers Communications in a research note on Monday, December 16th. They set an “underweight” rating on the stock. Finally, Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Rogers Communications presently 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.