Rogers Communications Inc. (NYSE:RCI) Shares Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. grew its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 5,526.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 591,944 shares of the Wireless communications provider’s stock after acquiring an additional 581,424 shares during the quarter. Rogers Communications accounts for approximately 0.9% of Hillsdale Investment Management Inc.’s holdings, making the stock its 21st largest holding. Hillsdale Investment Management Inc. owned 0.11% of Rogers Communications worth $18,177,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in Rogers Communications by 9.3% in the fourth quarter. American Century Companies Inc. now owns 78,308 shares of the Wireless communications provider’s stock worth $2,407,000 after acquiring an additional 6,661 shares in the last quarter. Summit Global Investments acquired a new stake in Rogers Communications in the fourth quarter worth about $1,939,000. Northwest & Ethical Investments L.P. boosted its holdings in 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 worth $10,560,000 after acquiring an additional 221,628 shares in the last quarter. Signaturefd LLC boosted its holdings in Rogers Communications by 58.5% in the fourth quarter. Signaturefd LLC now owns 10,503 shares of the Wireless communications provider’s stock worth $323,000 after acquiring an additional 3,876 shares in the last quarter. Finally, Brandes Investment Partners LP boosted its holdings in Rogers Communications by 24.1% in the fourth quarter. Brandes Investment Partners LP now owns 60,452 shares of the Wireless communications provider’s stock worth $1,858,000 after acquiring an additional 11,734 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Stock Down 1.8 %

Shares of RCI stock opened at $27.39 on Friday. The stock has a 50 day moving average of $28.08 and a 200 day moving average of $33.40. 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 stock has a market cap of $14.64 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a twelve month low of $26.57 and a twelve month high of $42.33.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts expect that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be given a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio is currently 59.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Morgan Stanley assumed coverage on 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. Finally, Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Rogers Communications presently has an average rating of “Hold” and a consensus target price of $61.75.

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.