391,123 Shares in Rogers Communications Inc. (NYSE:RCI) Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. purchased a new position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 391,123 shares of the Wireless communications provider’s stock, valued at approximately $12,019,000. Assenagon Asset Management S.A. owned 0.07% of Rogers Communications at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new stake in shares of Rogers Communications during the 2nd quarter worth approximately $55,000. American Century Companies Inc. grew its holdings in Rogers Communications by 9.7% in the second quarter. American Century Companies Inc. now owns 68,679 shares of the Wireless communications provider’s stock worth $2,540,000 after purchasing an additional 6,099 shares during the period. Dimensional Fund Advisors LP increased its stake in Rogers Communications by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 604,138 shares of the Wireless communications provider’s stock valued at $22,341,000 after purchasing an additional 33,930 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Rogers Communications during the second quarter valued at about $867,000. Finally, XTX Topco Ltd raised its holdings in shares of Rogers Communications by 12.6% during the second quarter. XTX Topco Ltd now owns 16,694 shares of the Wireless communications provider’s stock valued at $617,000 after purchasing an additional 1,869 shares during the period. 45.49% of the stock is owned by institutional investors.

Rogers Communications Trading Down 1.0 %

NYSE:RCI opened at $28.19 on Friday. The firm has a market capitalization of $15.07 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.91 and a beta of 0.69. Rogers Communications Inc. has a 52 week low of $27.63 and a 52 week high of $48.19. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. The company has a fifty day moving average of $32.81 and a 200 day moving average of $36.71.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the business earned $0.95 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, research analysts predict that Rogers Communications Inc. will post 3.52 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given a $0.3611 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.12%. Rogers Communications’s dividend payout ratio is currently 68.78%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RCI. Bank of America lowered 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 report on Monday, December 16th. They issued an “underweight” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $61.75.

Rogers Communications Company 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.