Deutsche Bank AG grew its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 31.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,298,043 shares of the Wireless communications provider’s stock after purchasing an additional 308,161 shares during the quarter. Deutsche Bank AG owned about 0.25% of Rogers Communications worth $66,105,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in RCI. USS Investment Management Ltd purchased a new stake in shares of Rogers Communications during the 4th quarter valued at approximately $130,443,000. The Manufacturers Life Insurance Company raised its position in shares of Rogers Communications by 79.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 4,596,985 shares of the Wireless communications provider’s stock valued at $234,125,000 after buying an additional 2,041,583 shares during the period. Picton Mahoney Asset Management purchased a new stake in shares of Rogers Communications during the 4th quarter valued at approximately $85,673,000. APG Asset Management N.V. raised its position in shares of Rogers Communications by 43.1% during the 4th quarter. APG Asset Management N.V. now owns 4,381,163 shares of the Wireless communications provider’s stock valued at $186,516,000 after buying an additional 1,320,100 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Rogers Communications by 71.5% during the 4th quarter. Mackenzie Financial Corp now owns 3,028,391 shares of the Wireless communications provider’s stock valued at $154,236,000 after buying an additional 1,263,019 shares during the period. 47.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rogers Communications Inc. (RCI) opened at $45.07 on Wednesday. Rogers Communications Inc. has a 1-year low of $41.35 and a 1-year high of $54.95. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.44 and a quick ratio of 0.39. The firm has a market cap of $23,413.56, a P/E ratio of 16.84, a P/E/G ratio of 2.90 and a beta of 0.90.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Monday, March 12th will be issued a $0.3843 dividend. The ex-dividend date of this dividend is Friday, March 9th. This represents a $1.54 annualized dividend and a yield of 3.41%. Rogers Communications’s dividend payout ratio (DPR) is presently 60.94%.
Several analysts have recently commented on RCI shares. Desjardins raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Bank of America started 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 price target on shares of Rogers Communications from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Friday, November 17th. Barclays reaffirmed a “hold” rating and set a $55.00 price target on shares of Rogers Communications in a research report on Friday, January 26th. Finally, Zacks Investment Research raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research report on Monday, January 29th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $62.75.
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Rogers Communications Profile
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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