Massachusetts Financial Services Co. MA Grows Holdings in Rogers Communications Inc. (NYSE:RCI)

Massachusetts Financial Services Co. MA grew its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,914,155 shares of the Wireless communications provider’s stock after buying an additional 17,666 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.55% of Rogers Communications worth $89,552,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RCI. Headlands Technologies LLC raised its position in Rogers Communications by 274.2% during the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider’s stock valued at $163,000 after purchasing an additional 3,888 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Rogers Communications by 31.5% during the 4th quarter. Geode Capital Management LLC now owns 2,149,482 shares of the Wireless communications provider’s stock valued at $67,040,000 after buying an additional 515,501 shares in the last quarter. Franklin Resources Inc. lifted its position in Rogers Communications by 115.3% in the 4th quarter. Franklin Resources Inc. now owns 23,467 shares of the Wireless communications provider’s stock worth $721,000 after buying an additional 12,567 shares during the last quarter. Wellington Management Group LLP boosted its stake in Rogers Communications by 95.6% in the fourth quarter. Wellington Management Group LLP now owns 43,424 shares of the Wireless communications provider’s stock worth $1,334,000 after buying an additional 21,226 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Rogers Communications by 123.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider’s stock valued at $206,565,000 after acquiring an additional 3,717,487 shares during the last quarter. 45.49% of the stock is owned by institutional investors.

Rogers Communications Trading Down 0.9 %

RCI opened at $25.85 on Friday. The firm has a market capitalization of $13.86 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a one year low of $24.76 and a one year high of $41.84. The business has a 50 day simple moving average of $27.72 and a two-hundred day simple moving average of $32.43. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, beating 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%. Analysts predict 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 was paid on Wednesday, April 2nd. Investors of record on Monday, March 10th were paid a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date was Monday, March 10th. Rogers Communications’s payout ratio is currently 59.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Barclays reissued an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Morgan Stanley assumed coverage on Rogers Communications in a report on Monday, December 16th. They issued an “underweight” rating on the stock. Scotiabank cut Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday. Finally, Canaccord Genuity Group raised Rogers Communications from a “hold” rating to a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.75.

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.