Korea Investment CORP Has $3.16 Million Holdings in Rogers Communications Inc. (RCI)

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Korea Investment CORP boosted its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 70.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 61,751 shares of the Wireless communications provider’s stock after purchasing an additional 25,449 shares during the period. Korea Investment CORP’s holdings in Rogers Communications were worth $3,163,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Rogers Communications by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,184,653 shares of the Wireless communications provider’s stock valued at $472,183,000 after buying an additional 237,435 shares in the last quarter. Vanguard Group Inc lifted its stake in Rogers Communications by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 9,184,653 shares of the Wireless communications provider’s stock valued at $472,183,000 after buying an additional 237,435 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Rogers Communications by 2.0% in the 4th quarter. Great West Life Assurance Co. Can now owns 6,117,849 shares of the Wireless communications provider’s stock valued at $313,882,000 after buying an additional 121,956 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Rogers Communications in the 3rd quarter valued at about $229,495,000. Finally, Mackenzie Financial Corp lifted its stake in Rogers Communications by 26.6% in the 4th quarter. Mackenzie Financial Corp now owns 3,826,705 shares of the Wireless communications provider’s stock valued at $196,157,000 after buying an additional 803,916 shares in the last quarter. 44.67% of the stock is currently owned by institutional investors.

A number of brokerages recently weighed in on RCI. ValuEngine lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Raymond James lowered shares of Rogers Communications to a “market perform” rating in a research note on Wednesday, February 27th. Zacks Investment Research lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. TD Securities lowered shares of Rogers Communications to a “buy” rating in a research note on Wednesday, February 6th. Finally, Echelon Wealth Partners reissued a “buy” rating on shares of Rogers Communications in a research note on Friday, January 25th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $54.68.

RCI opened at $54.34 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.65 and a current ratio of 0.72. Rogers Communications Inc. has a 1-year low of $43.11 and a 1-year high of $55.93. The company has a market capitalization of $27.97 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 3.02 and a beta of 0.71.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, January 24th. The Wireless communications provider reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.32. The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.87 billion. Rogers Communications had a net margin of 13.63% and a return on equity of 29.05%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. Sell-side analysts forecast that Rogers Communications Inc. will post 3.55 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th will be given a dividend of $0.3762 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, March 11th. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.37. Rogers Communications’s payout ratio is presently 45.37%.

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Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.

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Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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