Virtu Financial LLC Invests $222,000 in Rogers Communication, Inc. $RCI

Key Points

• Virtu Financial LLC acquired 8,294 shares of Rogers Communication, Inc. during the first quarter, valued at approximately $222,000.
• Rogers Communication recently declared an increased quarterly dividend of $0.3672, resulting in a 4.2% dividend yield.
• In its latest quarterly earnings, Rogers reported an EPS of $0.82, exceeding analyst estimates despite lower revenue of $3.82 billion.

Virtu Financial LLC bought a new position in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,294 shares of the Wireless communications provider's stock, valued at approximately $222,000.

Several other hedge funds also recently made changes to their positions in the company. Value Partners Investments Inc. raised its holdings in shares of Rogers Communication by 1,252.8% during the first quarter. Value Partners Investments Inc. now owns 2,312,136 shares of the Wireless communications provider's stock valued at $61,808,000 after acquiring an additional 2,141,227 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Rogers Communication by 380.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,348,091 shares of the Wireless communications provider's stock valued at $62,717,000 after acquiring an additional 1,859,288 shares in the last quarter. Intact Investment Management Inc. raised its holdings in shares of Rogers Communication by 55.7% during the first quarter. Intact Investment Management Inc. now owns 2,913,921 shares of the Wireless communications provider's stock valued at $77,827,000 after acquiring an additional 1,042,690 shares in the last quarter. Letko Brosseau & Associates Inc. raised its holdings in shares of Rogers Communication by 23.5% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 5,210,380 shares of the Wireless communications provider's stock valued at $160,094,000 after acquiring an additional 992,780 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Rogers Communication by 468.6% during the fourth quarter. Canada Pension Plan Investment Board now owns 606,700 shares of the Wireless communications provider's stock valued at $18,627,000 after acquiring an additional 500,000 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Scotiabank restated a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Finally, Barclays increased their price objective on Rogers Communication from $31.00 to $33.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Three 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $59.00.

Rogers Communication Stock Up 0.8%

RCI traded up $0.2740 during trading on Thursday, reaching $35.6140. The stock had a trading volume of 611,791 shares, compared to its average volume of 1,109,806. The stock's 50 day moving average is $32.36 and its two-hundred day moving average is $28.57. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 2.23. The company has a market capitalization of $19.16 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 2.30 and a beta of 0.77. Rogers Communication, Inc. has a one year low of $23.18 and a one year high of $41.84.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.02. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the prior year, the company earned $1.16 earnings per share. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 8th will be paid a $0.3672 dividend. This is an increase from Rogers Communication's previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, September 8th. Rogers Communication's payout ratio is currently 72.64%.

About Rogers Communication

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.