PNC Financial Services Group Inc. Has $436,000 Holdings in Rogers Communications Inc. (NYSE:RCI)

PNC Financial Services Group Inc. grew its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,194 shares of the Wireless communications provider’s stock after purchasing an additional 571 shares during the period. PNC Financial Services Group Inc.’s holdings in Rogers Communications were worth $436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Lindbrook Capital LLC raised its holdings in Rogers Communications by 95.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock valued at $47,000 after acquiring an additional 744 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Rogers Communications by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock valued at $55,000 after purchasing an additional 1,052 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Rogers Communications during the third quarter valued at approximately $206,000. V Square Quantitative Management LLC raised its stake in shares of Rogers Communications by 19.1% in the fourth quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock valued at $178,000 after purchasing an additional 930 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in Rogers Communications in the third quarter worth $248,000. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Down 1.1 %

RCI stock opened at $27.95 on Friday. The company has a market cap of $14.94 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a twelve month low of $26.57 and a twelve month high of $42.92. The business has a 50 day moving average price of $28.11 and a two-hundred day moving average price of $33.49. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67.

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

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be paid a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 4.97%. The ex-dividend date is Monday, March 10th. Rogers Communications’s dividend payout ratio (DPR) is 59.48%.

Analysts Set New Price Targets

A number of research analysts have commented on RCI shares. Barclays restated an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Bank of America lowered Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley began coverage on Rogers Communications in a research note on Monday, December 16th. They set an “underweight” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average 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.