Rogers Communication, Inc. (NYSE:RCI) Shares Sold by AGF Management Ltd.

Key Points

• AGF Management Ltd. reduced its holdings in Rogers Communication by 49.4% during the 1st quarter, now owning approximately 1.4 million shares valued at around $37.57 million.
• Rogers Communication has declared a quarterly dividend of $0.3672, marking an increase from its previous dividend of $0.36 and reflecting a 4.3% yield.
• Equities research analysts have mixed ratings for the company, with a consensus rating of "Hold" and an average price target of $72.00.

AGF Management Ltd. lowered its position in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 49.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,405,573 shares of the Wireless communications provider's stock after selling 1,373,639 shares during the period. AGF Management Ltd. owned approximately 0.26% of Rogers Communication worth $37,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in RCI. SBI Securities Co. Ltd. raised its stake in shares of Rogers Communication by 885.4% during the first quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock valued at $25,000 after acquiring an additional 850 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Rogers Communication during the first quarter valued at approximately $79,000. CWM LLC increased its holdings in Rogers Communication by 57.4% during the first quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock valued at $100,000 after buying an additional 1,363 shares during the period. TD Private Client Wealth LLC grew its holdings in Rogers Communication by 263.1% in the first quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider's stock worth $137,000 after purchasing an additional 3,718 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Rogers Communication in the first quarter worth $222,000. Institutional investors own 45.49% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. BMO Capital Markets reaffirmed an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Barclays lifted their price target on shares of Rogers Communication from $31.00 to $33.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $59.00.

Rogers Communication Stock Performance

Shares of NYSE:RCI traded up $0.28 on Friday, hitting $35.34. 1,007,886 shares of the company were exchanged, compared to its average volume of 1,328,114. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $41.84. The stock's 50 day moving average price is $31.71 and its 200 day moving average price is $28.37. 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 firm has a market capitalization of $19.01 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 1.90 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 EPS for the quarter, topping the consensus estimate of $0.80 by $0.02. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the previous year, the firm posted $1.16 earnings per share. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. Sell-side analysts predict that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 8th will be given a dividend of $0.3672 per share. This is a boost from Rogers Communication's previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Monday, September 8th. Rogers Communication's payout ratio is presently 72.64%.

Rogers Communication 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.