Amundi Has $17.79 Million Stock Position in Rogers Communications Inc. (NYSE:RCI)

Amundi lifted its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 27.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 582,791 shares of the Wireless communications provider’s stock after purchasing an additional 125,183 shares during the quarter. Amundi owned approximately 0.11% of Rogers Communications worth $17,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in Rogers Communications by 4.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,194 shares of the Wireless communications provider’s stock worth $436,000 after purchasing an additional 571 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. lifted its holdings in shares of Rogers Communications by 24.1% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,443,877 shares of the Wireless communications provider’s stock worth $44,330,000 after acquiring an additional 280,779 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Rogers Communications by 95.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock worth $47,000 after acquiring an additional 744 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Rogers Communications during the 4th quarter valued at about $608,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Rogers Communications by 57.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 210,133 shares of the Wireless communications provider’s stock valued at $6,457,000 after acquiring an additional 76,373 shares during the period. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Stock Down 0.4 %

NYSE RCI opened at $27.86 on Friday. The stock’s 50 day simple moving average is $28.36 and its 200 day simple moving average is $33.92. Rogers Communications Inc. has a one year low of $26.57 and a one year high of $43.17. The firm has a market cap of $14.89 billion, a PE ratio of 12.01, 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 current ratio of 0.66 and a quick ratio of 0.61.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted 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, sell-side analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be paid a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Monday, March 10th. Rogers Communications’s dividend payout ratio is presently 59.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RCI. Barclays restated an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley began coverage on Rogers Communications in a research report on Monday, December 16th. They issued an “underweight” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rogers Communications presently has a consensus rating of “Hold” and an average price target 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.