Fifth Third Bancorp Purchases 359 Shares of Rogers Communications Inc. (NYSE:RCI)

Fifth Third Bancorp increased its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 120.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 658 shares of the Wireless communications provider’s stock after acquiring an additional 359 shares during the quarter. Fifth Third Bancorp’s holdings in Rogers Communications were worth $31,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RCI. Raymond James Financial Services Advisors Inc. bought a new position in shares of Rogers Communications in the first quarter valued at approximately $1,219,000. American Century Companies Inc. boosted its position in shares of Rogers Communications by 29.8% in the first quarter. American Century Companies Inc. now owns 28,915 shares of the Wireless communications provider’s stock valued at $1,637,000 after acquiring an additional 6,634 shares during the period. US Bancorp DE boosted its position in shares of Rogers Communications by 3.0% in the first quarter. US Bancorp DE now owns 7,289 shares of the Wireless communications provider’s stock valued at $413,000 after acquiring an additional 213 shares during the period. HighTower Advisors LLC bought a new position in shares of Rogers Communications in the first quarter valued at approximately $237,000. Finally, BlackRock Inc. lifted its position in Rogers Communications by 16.1% during the first quarter. BlackRock Inc. now owns 3,281,771 shares of the Wireless communications provider’s stock valued at $186,241,000 after purchasing an additional 455,522 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays dropped their target price on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday. StockNews.com lowered shares of Rogers Communications from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Rogers Communications currently has an average rating of “Moderate Buy” and a consensus target price of $46.00.

Rogers Communications Trading Down 0.5 %

RCI stock opened at $39.15 on Friday. The company has a market capitalization of $20.69 billion, a PE ratio of 32.63, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. Rogers Communications Inc. has a one year low of $36.55 and a one year high of $50.00. The company’s 50 day moving average price is $43.33 and its two-hundred day moving average price is $43.11. The company has a debt-to-equity ratio of 3.81, a quick ratio of 0.84 and a current ratio of 0.89.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, February 1st. The Wireless communications provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.76 by $0.11. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.99 billion. Rogers Communications had a net margin of 4.38% and a return on equity of 22.17%. As a group, analysts predict that Rogers Communications Inc. will post 3.62 earnings per share for the current fiscal year.

Rogers Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Monday, March 11th were paid a dividend of $0.3742 per share. The ex-dividend date was Friday, March 8th. This is an increase from Rogers Communications’s previous quarterly dividend of $0.36. This represents a $1.50 annualized dividend and a dividend yield of 3.82%. Rogers Communications’s dividend payout ratio (DPR) is 122.50%.

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.