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 acquired a new position in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,294 shares of the Wireless communications provider's stock, valued at approximately $222,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Polar Asset Management Partners Inc. grew its stake in Rogers Communication by 239.5% during the 4th quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the Wireless communications provider's stock valued at $1,306,000 after acquiring an additional 29,982 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Rogers Communication by 280.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 241,730 shares of the Wireless communications provider's stock valued at $7,428,000 after acquiring an additional 178,145 shares in the last quarter. Gotham Asset Management LLC grew its stake in Rogers Communication by 210.8% during the 4th quarter. Gotham Asset Management LLC now owns 30,718 shares of the Wireless communications provider's stock valued at $944,000 after acquiring an additional 20,833 shares in the last quarter. A&I Financial Services LLC grew its stake in Rogers Communication by 66.0% during the 1st quarter. A&I Financial Services LLC now owns 19,637 shares of the Wireless communications provider's stock valued at $525,000 after acquiring an additional 7,810 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Rogers Communication by 3.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 455,687 shares of the Wireless communications provider's stock valued at $12,306,000 after acquiring an additional 14,606 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RCI shares. Scotiabank reaffirmed a "sector perform" rating on shares of Rogers Communication in a research note on Tuesday, July 15th. Barclays lifted their target price on Rogers Communication from $31.00 to $33.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $59.00.

Rogers Communication Trading Up 0.7%

NYSE:RCI traded up $0.2540 during trading hours on Wednesday, hitting $35.4840. 331,511 shares of the stock were exchanged, compared to its average volume of 1,239,964. The company's 50 day moving average is $32.04 and its two-hundred day moving average is $28.47. Rogers Communication, Inc. has a twelve month low of $23.18 and a twelve month high of $41.84. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 2.23. The company has a market capitalization of $19.09 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77.

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 the consensus estimate of $0.80 by $0.02. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the prior year, the business earned $1.16 EPS. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 8th will be given a dividend of $0.3672 per share. This represents a $1.47 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Monday, September 8th. This is a positive change from Rogers Communication's previous quarterly dividend of $0.36. Rogers Communication's dividend payout ratio is presently 72.64%.

Rogers Communication Company Profile

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.