Mawer Investment Management Ltd. reduced its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 11.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,957,831 shares of the Wireless communications provider’s stock after selling 652,661 shares during the period. Rogers Communications comprises approximately 2.1% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 12th largest position. Mawer Investment Management Ltd. owned 0.96% of Rogers Communications worth $252,881,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. FDx Advisors Inc. acquired a new stake in shares of Rogers Communications in the 4th quarter valued at approximately $305,000. Ontario Teachers Pension Plan Board boosted its position in Rogers Communications by 2.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 139,528 shares of the Wireless communications provider’s stock worth $7,127,000 after buying an additional 3,584 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Rogers Communications by 127.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 108,700 shares of the Wireless communications provider’s stock worth $5,536,000 after buying an additional 60,900 shares during the period. Bank of New York Mellon Corp boosted its position in Rogers Communications by 4.0% during the 4th quarter. Bank of New York Mellon Corp now owns 414,628 shares of the Wireless communications provider’s stock worth $21,118,000 after buying an additional 15,997 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in Rogers Communications by 1.1% during the 4th quarter. State of Wisconsin Investment Board now owns 465,790 shares of the Wireless communications provider’s stock worth $23,811,000 after buying an additional 5,200 shares during the period. Institutional investors own 47.79% of the company’s stock.
Rogers Communications Inc. (NYSE:RCI) traded up $0.14 during trading on Wednesday, reaching $45.21. 153,240 shares of the company’s stock traded hands, compared to its average volume of 349,953. The company has a current ratio of 0.44, a quick ratio of 0.39 and a debt-to-equity ratio of 2.00. Rogers Communications Inc. has a 52-week low of $41.35 and a 52-week high of $54.95. The company has a market cap of $23,413.56, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 2.90 and a beta of 0.90.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Monday, March 12th will be issued a dividend of $0.3843 per share. The ex-dividend date of this dividend is Friday, March 9th. This represents a $1.54 annualized dividend and a yield of 3.40%. Rogers Communications’s payout ratio is 60.94%.
Several equities research analysts recently commented on the stock. Bank of America assumed coverage on shares of Rogers Communications in a research report on Tuesday, November 21st. They set a “buy” rating on the stock. Morgan Stanley lifted their target price on shares of Rogers Communications from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Friday, November 17th. Desjardins upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Zacks Investment Research downgraded shares of Rogers Communications from a “hold” rating to a “sell” rating in a research report on Monday, January 22nd. Finally, Barclays reiterated a “hold” rating and set a $55.00 target price on shares of Rogers Communications in a research report on Friday, January 26th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $62.75.
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About Rogers Communications
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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