QV Investors Inc. Purchases New Shares in Rogers Communications Inc. (NYSE:RCI)

QV Investors Inc. acquired a new position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) during the fourth quarter, HoldingsChannel reports. The fund acquired 411,693 shares of the Wireless communications provider’s stock, valued at approximately $12,650,000. Rogers Communications accounts for approximately 1.3% of QV Investors Inc.’s portfolio, making the stock its 27th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RCI. Cromwell Holdings LLC bought a new stake in Rogers Communications during the 3rd quarter worth about $31,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Rogers Communications by 110.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after purchasing an additional 522 shares during the last quarter. Grove Bank & Trust grew its stake in shares of Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after purchasing an additional 302 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Rogers Communications in the second quarter valued at approximately $55,000. Finally, Nexus Investment Management ULC bought a new position in Rogers Communications in the 3rd quarter worth approximately $203,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Trading Up 1.2 %

Shares of NYSE:RCI traded up $0.36 during mid-day trading on Monday, reaching $29.36. The stock had a trading volume of 349,167 shares, compared to its average volume of 912,405. The firm has a 50 day simple moving average of $33.62 and a two-hundred day simple moving average of $36.99. Rogers Communications Inc. has a twelve month low of $28.89 and a twelve month high of $48.19. The firm has a market cap of $15.69 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.06 and a beta of 0.69. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share 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 company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, research analysts predict that Rogers Communications Inc. will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a $0.3611 dividend. The ex-dividend date was Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a yield of 4.92%. Rogers Communications’s payout ratio is 68.78%.

Analyst Ratings Changes

RCI has been the subject of several research reports. Morgan Stanley began coverage on Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating for the company. BMO Capital Markets boosted their price objective on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Finally, TD Securities raised their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.75.

About Rogers Communications

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.