Wellington Management Group LLP Buys 21,226 Shares of Rogers Communications Inc. (NYSE:RCI)

Wellington Management Group LLP raised its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 95.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,424 shares of the Wireless communications provider’s stock after purchasing an additional 21,226 shares during the period. Wellington Management Group LLP’s holdings in Rogers Communications were worth $1,334,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. raised its position in shares of Rogers Communications by 1.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 23,563 shares of the Wireless communications provider’s stock valued at $725,000 after buying an additional 379 shares during the last quarter. Verition Fund Management LLC increased its stake in Rogers Communications by 7.9% during the third quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider’s stock valued at $301,000 after acquiring an additional 551 shares during the period. PNC Financial Services Group Inc. raised its holdings in Rogers Communications by 4.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,194 shares of the Wireless communications provider’s stock valued at $436,000 after acquiring an additional 571 shares in the last quarter. Waldron Private Wealth LLC lifted its position in shares of Rogers Communications by 3.1% in the 4th quarter. Waldron Private Wealth LLC now owns 21,943 shares of the Wireless communications provider’s stock worth $682,000 after acquiring an additional 660 shares during the period. Finally, State Street Corp grew its holdings in shares of Rogers Communications by 0.5% during the 3rd quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider’s stock worth $5,550,000 after purchasing an additional 661 shares in the last quarter. 45.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Morgan Stanley started coverage on Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating for the company. Canaccord Genuity Group raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a report on Friday, April 4th. Barclays reiterated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Bank of America lowered shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Finally, Scotiabank downgraded Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, April 1st. One 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.com, Rogers Communications currently has a consensus rating of “Hold” and an average price target of $67.00.

Rogers Communications Trading Up 3.6 %

Shares of Rogers Communications stock opened at $24.39 on Monday. The stock has a market capitalization of $13.08 billion, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a 12-month low of $23.18 and a 12-month high of $41.84. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. The company has a 50-day simple moving average of $27.15 and a 200 day simple moving average of $31.58.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. Research analysts expect that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th were issued a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend was Monday, March 10th. Rogers Communications’s payout ratio is presently 59.48%.

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.