168,894 Shares in Rogers Communication, Inc. $RCI Acquired by Munich Reinsurance Co Stock Corp in Munich

Key Points

• Munich Reinsurance Co Stock Corp opened a new position in Rogers Communication by acquiring 168,894 shares in Q4, valued at roughly $6.4 million.
• Analyst and institutional backdrop is mixed: the stock has an average rating of "Hold" with an average price target of $36, while major institutions (Arrowstreet, TD, Bank of Nova Scotia, Mackenzie, Bank of America) have recently increased stakes and institutional ownership stands at 45.49%.
• Rogers reported Q earnings of $0.74 EPS (beating by $0.01) but revenue of $3.94 billion missed estimates; the company also declared a quarterly dividend of $0.50 (annualized $2.00, ~5.5% yield).

Munich Reinsurance Co Stock Corp in Munich acquired a new position in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 168,894 shares of the Wireless communications provider's stock, valued at approximately $6,397,000.

Several other institutional investors have also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership raised its position in shares of Rogers Communication by 2.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 9,886,365 shares of the Wireless communications provider's stock worth $340,428,000 after purchasing an additional 282,609 shares during the last quarter. Bank of Nova Scotia raised its position in shares of Rogers Communication by 2.3% during the 3rd quarter. Bank of Nova Scotia now owns 8,465,953 shares of the Wireless communications provider's stock worth $291,526,000 after purchasing an additional 186,510 shares during the last quarter. TD Asset Management Inc raised its position in shares of Rogers Communication by 18.0% during the 3rd quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider's stock worth $287,340,000 after purchasing an additional 1,272,065 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Rogers Communication by 7.0% during the 3rd quarter. Mackenzie Financial Corp now owns 8,161,532 shares of the Wireless communications provider's stock worth $280,904,000 after purchasing an additional 536,623 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Rogers Communication by 67.8% during the 3rd quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider's stock worth $167,765,000 after purchasing an additional 1,966,476 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RCI has been the subject of several analyst reports. Desjardins reiterated a "hold" rating on shares of Rogers Communication in a report on Thursday. Royal Bank Of Canada reiterated an "outperform" rating on shares of Rogers Communication in a report on Tuesday, January 13th. Barclays reiterated a "positive" rating and issued a $37.00 price target on shares of Rogers Communication in a report on Tuesday, January 27th. Scotiabank upgraded Rogers Communication from a "hold" rating to an "outperform" rating in a report on Thursday. Finally, Wall Street Zen downgraded Rogers Communication from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Rogers Communication has an average rating of "Hold" and an average price target of $36.00.

Rogers Communication Stock Down 3.4%

Shares of NYSE RCI opened at $36.07 on Friday. Rogers Communication, Inc. has a 52-week low of $24.67 and a 52-week high of $41.14. The firm has a fifty day moving average of $37.42 and a 200-day moving average of $37.42. The stock has a market capitalization of $19.48 billion, a PE ratio of 3.80, a P/E/G ratio of 6.58 and a beta of 0.72. The company has a quick ratio of 0.57, a current ratio of 0.55 and a debt-to-equity ratio of 1.43.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The company had revenue of $3.94 billion during the quarter, compared to analysts' expectations of $5.44 billion. During the same period in the previous year, the company earned $0.99 EPS. The business's quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that Rogers Communication, Inc. will post 3.48 EPS for the current year.

Rogers Communication Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be paid 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 dividend yield of 5.5%. Rogers Communication's payout ratio is currently 15.08%.

Rogers Communication Profile

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.

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