Healthcare of Ontario Pension Plan Trust Fund Purchases 233,449 Shares of Rogers Communication, Inc. $RCI

Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 277.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 317,533 shares of the Wireless communications provider’s stock after buying an additional 233,449 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.06% of Rogers Communication worth $12,208,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RCI. Parallel Advisors LLC raised its stake in shares of Rogers Communication by 10.2% during the 1st quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider’s stock worth $130,000 after acquiring an additional 312 shares in the last quarter. Van ECK Associates Corp lifted its position in Rogers Communication by 6.0% during the third quarter. Van ECK Associates Corp now owns 5,889 shares of the Wireless communications provider’s stock valued at $203,000 after acquiring an additional 334 shares during the last quarter. Monarch Capital Management Inc. boosted its stake in Rogers Communication by 0.6% in the first quarter. Monarch Capital Management Inc. now owns 59,746 shares of the Wireless communications provider’s stock valued at $2,299,000 after acquiring an additional 360 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Rogers Communication by 107.4% in the fourth quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock valued at $30,000 after acquiring an additional 407 shares in the last quarter. Finally, Orion Porfolio Solutions LLC grew its holdings in Rogers Communication by 6.5% in the fourth quarter. Orion Porfolio Solutions LLC now owns 7,873 shares of the Wireless communications provider’s stock worth $297,000 after purchasing an additional 479 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors.

Rogers Communication Trading Up 5.8%

Shares of Rogers Communication stock opened at $34.73 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54. Rogers Communication, Inc. has a 12-month low of $31.38 and a 12-month high of $41.14. The firm has a market capitalization of $18.76 billion, a price-to-earnings ratio of 4.19, a PEG ratio of 4.09 and a beta of 0.64. The firm’s 50 day simple moving average is $35.52 and its two-hundred day simple moving average is $36.51.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the company posted $1.14 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts predict that Rogers Communication, Inc. will post 3.27 EPS for the current year.

Rogers Communication Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 8th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, September 8th. Rogers Communication’s dividend payout ratio is presently 16.91%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RCI. Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Barclays lowered their price objective on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Scotiabank restated an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, July 7th. TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a research report on Thursday, July 23rd. Finally, Raymond James Financial initiated coverage on Rogers Communication in a research note on Wednesday, July 15th. They issued an “outperform” rating for the company. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Rogers Communication currently has a consensus rating of “Hold” and a consensus target price of $36.00.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.