Pendal Group Ltd lessened its stake in Rogers Communications Inc. (NYSE:RCI – Get Rating) (TSE:RCI.B) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,396 shares of the Wireless communications provider's stock after selling 416 shares during the quarter. Pendal Group Ltd's holdings in Rogers Communications were worth $393,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ronald Blue Trust Inc. lifted its holdings in Rogers Communications by 129.6% in the fourth quarter. Ronald Blue Trust Inc. now owns 675 shares of the Wireless communications provider's stock valued at $26,000 after acquiring an additional 381 shares during the last quarter. Romano Brothers AND Company purchased a new stake in Rogers Communications in the 4th quarter valued at about $54,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in Rogers Communications by 26.7% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,760 shares of the Wireless communications provider's stock valued at $99,000 after buying an additional 371 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in Rogers Communications during the third quarter worth about $100,000. Finally, Quadrant Capital Group LLC increased its position in shares of Rogers Communications by 16.6% during the third quarter. Quadrant Capital Group LLC now owns 3,464 shares of the Wireless communications provider's stock valued at $134,000 after acquiring an additional 493 shares during the last quarter. Hedge funds and other institutional investors own 45.46% of the company's stock.
Get Rogers Communications alerts:Rogers Communications Trading Up 1.8 %
NYSE:RCI opened at $47.68 on Friday. The stock has a fifty day moving average price of $47.41 and a 200 day moving average price of $44.61. The company has a current ratio of 2.02, a quick ratio of 1.97 and a debt-to-equity ratio of 2.96. Rogers Communications Inc. has a 12-month low of $36.23 and a 12-month high of $64.55. The firm has a market cap of $24.07 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.72 and a beta of 0.51.
Rogers Communications (NYSE:RCI – Get Rating) (TSE:RCI.B) last released its earnings results on Thursday, February 2nd. The Wireless communications provider reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.06. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.08 billion. Rogers Communications had a net margin of 10.90% and a return on equity of 18.14%. Sell-side analysts anticipate that Rogers Communications Inc. will post 3.22 earnings per share for the current fiscal year.
Rogers Communications Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 10th will be issued a $0.368 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 3.09%. This is a positive change from Rogers Communications's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, March 9th. Rogers Communications's dividend payout ratio (DPR) is presently 59.04%.
Wall Street Analyst Weigh In
RCI has been the subject of a number of research analyst reports. UBS Group raised shares of Rogers Communications from a "neutral" rating to a "buy" rating in a research report on Monday, February 6th. StockNews.com assumed coverage on Rogers Communications in a research report on Thursday, March 16th. They set a "hold" rating for the company. CIBC raised their price target on Rogers Communications from C$69.00 to C$72.00 in a research report on Thursday, January 12th. National Bank Financial raised their price target on Rogers Communications from C$75.00 to C$78.00 in a research report on Thursday, January 12th. Finally, TheStreet upgraded Rogers Communications from a "c" rating to a "b" rating in a research report on Monday, February 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $74.31.
Rogers Communications Company Profile
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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 and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers.
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