Hillsdale Investment Management Inc. Boosts Stock Position in Rogers Communications Inc. (NYSE:RCI)

Hillsdale Investment Management Inc. grew its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 5,526.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 591,944 shares of the Wireless communications provider’s stock after buying an additional 581,424 shares during the quarter. Rogers Communications accounts for 0.9% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 21st largest position. Hillsdale Investment Management Inc.’s holdings in Rogers Communications were worth $18,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. National Bank of Canada FI increased its position in shares of Rogers Communications by 18.6% in the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock valued at $250,886,000 after buying an additional 977,924 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Rogers Communications by 371.0% in the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after buying an additional 3,980,525 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Rogers Communications by 90.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock valued at $115,775,000 after buying an additional 1,375,043 shares in the last quarter. AGF Management Ltd. increased its position in shares of Rogers Communications by 4.4% in the fourth quarter. AGF Management Ltd. now owns 2,779,212 shares of the Wireless communications provider’s stock valued at $85,405,000 after buying an additional 117,117 shares in the last quarter. Finally, FMR LLC increased its position in shares of Rogers Communications by 2.8% in the third quarter. FMR LLC now owns 2,496,298 shares of the Wireless communications provider’s stock valued at $100,372,000 after buying an additional 68,759 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RCI. Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Morgan Stanley assumed coverage on Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. Finally, Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.75.

Rogers Communications Stock Performance

NYSE RCI opened at $27.39 on Friday. The stock’s fifty day moving average is $28.08 and its two-hundred day moving average is $33.40. The firm has a market capitalization of $14.64 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. Rogers Communications Inc. has a fifty-two week low of $26.57 and a fifty-two week high of $42.33.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share 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%. On average, research 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be paid a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s dividend payout ratio (DPR) is currently 59.48%.

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.