Wellington Management Group LLP Buys 10,917 Shares of Rogers Communications Inc. (NYSE:RCI)

Wellington Management Group LLP lifted its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 96.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,198 shares of the Wireless communications provider’s stock after purchasing an additional 10,917 shares during the period. Wellington Management Group LLP’s holdings in Rogers Communications were worth $894,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. State Street Corp increased its position in Rogers Communications by 0.5% in the third quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider’s stock worth $5,550,000 after buying an additional 661 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Rogers Communications by 3.7% in the 3rd quarter. Quantinno Capital Management LP now owns 28,666 shares of the Wireless communications provider’s stock worth $1,153,000 after acquiring an additional 1,023 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Rogers Communications by 1,046.8% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock valued at $24,101,000 after acquiring an additional 547,201 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Rogers Communications by 20.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,524,893 shares of the Wireless communications provider’s stock valued at $61,382,000 after purchasing an additional 258,153 shares during the last quarter. Finally, PDT Partners LLC boosted its position in Rogers Communications by 15.2% during the third quarter. PDT Partners LLC now owns 96,490 shares of the Wireless communications provider’s stock worth $3,880,000 after purchasing an additional 12,758 shares during the period. Institutional investors own 45.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RCI. TD Securities boosted their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Morgan Stanley began coverage on shares of Rogers Communications in a report on Monday. They set an “underweight” rating on the stock. Finally, BMO Capital Markets raised their price target on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.75.

Rogers Communications Stock Performance

NYSE RCI opened at $30.39 on Friday. The company’s 50 day simple moving average is $35.97 and its two-hundred day simple moving average is $37.89. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64. Rogers Communications Inc. has a 1 year low of $30.36 and a 1 year high of $48.19. The stock has a market capitalization of $16.24 billion, a PE ratio of 14.82, a P/E/G ratio of 1.06 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the business posted $0.95 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. Analysts predict that Rogers Communications Inc. will post 3.56 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a dividend of $0.3611 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s payout ratio is 71.71%.

Rogers Communications 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.