Rogers Communication, Inc. $RCI Shares Acquired by Vest Financial LLC

Vest Financial LLC raised its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 38.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,803 shares of the Wireless communications provider’s stock after purchasing an additional 31,368 shares during the quarter. Vest Financial LLC’s holdings in Rogers Communication were worth $4,256,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RCI. Bank of America Corp DE raised its holdings in shares of Rogers Communication by 67.8% during the third quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock valued at $167,765,000 after acquiring an additional 1,966,476 shares during the period. CIBC Asset Management Inc lifted its stake in Rogers Communication by 261.2% in the third quarter. CIBC Asset Management Inc now owns 2,102,076 shares of the Wireless communications provider’s stock valued at $72,280,000 after acquiring an additional 1,520,062 shares during the last quarter. Caisse de depot et placement du Quebec acquired a new stake in shares of Rogers Communication in the third quarter worth about $47,082,000. TD Asset Management Inc raised its stake in shares of Rogers Communication by 18.0% in the 3rd quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock valued at $287,340,000 after acquiring an additional 1,272,065 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Rogers Communication by 390.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,021,444 shares of the Wireless communications provider’s stock worth $35,156,000 after purchasing an additional 813,286 shares during the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. TD Cowen reiterated a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Scotiabank upgraded shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada reissued an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, January 13th. Wall Street Zen lowered Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, TD Securities cut Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Rogers Communication currently has a consensus rating of “Hold” and an average target price of $36.00.

Rogers Communication Stock Performance

Shares of NYSE:RCI opened at $36.28 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $19.60 billion, a P/E ratio of 3.83, a P/E/G ratio of 3.18 and a beta of 0.72. The business has a 50-day moving average price of $37.28 and a two-hundred day moving average price of $37.44. Rogers Communication, Inc. has a 1-year low of $24.80 and a 1-year high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period in the prior year, the business earned $0.99 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts predict that Rogers Communication, Inc. will post 3.59 earnings per share for the current year.

Rogers Communication Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.00 annualized dividend and a yield of 5.5%. Rogers Communication’s payout ratio is 15.51%.

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.