Renaissance Technologies LLC Has $4.86 Million Stock Holdings in Rogers Communications Inc. (NYSE:RCI)

Renaissance Technologies LLC cut its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 67.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 158,230 shares of the Wireless communications provider’s stock after selling 323,200 shares during the period. Renaissance Technologies LLC’s holdings in Rogers Communications were worth $4,862,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RCI. Lindbrook Capital LLC increased its holdings in 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 purchasing an additional 744 shares in the last quarter. Jones Financial Companies Lllp raised its position in Rogers Communications by 141.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock valued at $55,000 after buying an additional 1,052 shares during the last quarter. Headlands Technologies LLC lifted its stake in Rogers Communications by 274.2% during the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider’s stock valued at $163,000 after acquiring an additional 3,888 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of Rogers Communications by 19.1% in the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock worth $178,000 after acquiring an additional 930 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in shares of Rogers Communications in the third quarter valued at about $248,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RCI shares. Scotiabank downgraded shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st. Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Barclays reissued an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Canaccord Genuity Group upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a report on Friday, April 4th. One investment 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $67.00.

Rogers Communications Price Performance

RCI opened at $25.90 on Monday. The company has a market capitalization of $13.88 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.43 and a beta of 0.67. 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 firm has a 50-day moving average price of $26.95 and a 200-day moving average price of $31.09. Rogers Communications Inc. has a twelve month low of $23.18 and a twelve month high of $41.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued 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%. Equities analysts expect that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th were given a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend was Monday, March 10th. Rogers Communications’s dividend 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.