Rogers Communications Inc. (NYSE:RCI) Stock Position Raised by Intact Investment Management Inc.

Intact Investment Management Inc. increased its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,481,691 shares of the Wireless communications provider’s stock after buying an additional 23,390 shares during the period. Rogers Communications comprises about 2.8% of Intact Investment Management Inc.’s holdings, making the stock its 6th largest position. Intact Investment Management Inc. owned about 0.28% of Rogers Communications worth $69,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Orion Portfolio Solutions LLC lifted its holdings in Rogers Communications by 317.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 33,877 shares of the Wireless communications provider’s stock valued at $1,301,000 after purchasing an additional 25,766 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in Rogers Communications by 101.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 131,276 shares of the Wireless communications provider’s stock valued at $5,040,000 after purchasing an additional 66,231 shares in the last quarter. Invesco Ltd. lifted its holdings in Rogers Communications by 13.7% in the 3rd quarter. Invesco Ltd. now owns 200,294 shares of the Wireless communications provider’s stock valued at $7,689,000 after purchasing an additional 24,178 shares in the last quarter. Cumberland Partners Ltd lifted its holdings in Rogers Communications by 3.4% in the 4th quarter. Cumberland Partners Ltd now owns 718,261 shares of the Wireless communications provider’s stock valued at $33,622,000 after purchasing an additional 23,774 shares in the last quarter. Finally, Scotia Capital Inc. lifted its holdings in Rogers Communications by 9.3% in the 3rd quarter. Scotia Capital Inc. now owns 2,625,594 shares of the Wireless communications provider’s stock valued at $100,617,000 after purchasing an additional 224,293 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communications Trading Down 0.2 %

RCI traded down $0.08 on Friday, reaching $37.96. 1,265,055 shares of the company’s stock were exchanged, compared to its average volume of 925,322. The company’s 50 day moving average is $41.67 and its 200-day moving average is $43.12. The company has a market cap of $20.06 billion, a price-to-earnings ratio of 47.44, a PEG ratio of 1.64 and a beta of 0.59. Rogers Communications Inc. has a twelve month low of $36.55 and a twelve month high of $50.00. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.84 and a current ratio of 0.77.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. Equities analysts predict that Rogers Communications Inc. will post 3.56 earnings per share for the current year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be given a $0.3658 dividend. This represents a $1.46 annualized dividend and a yield of 3.85%. The ex-dividend date is Monday, June 10th. Rogers Communications’s dividend payout ratio (DPR) is 183.75%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RCI shares. StockNews.com lowered shares of Rogers Communications from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Barclays cut their price objective on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company. According to data from MarketBeat, Rogers Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.00.

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.