A&I Financial Services LLC Acquires 7,810 Shares of Rogers Communication, Inc. (NYSE:RCI)

A&I Financial Services LLC increased its stake in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 66.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,637 shares of the Wireless communications provider's stock after buying an additional 7,810 shares during the quarter. A&I Financial Services LLC's holdings in Rogers Communication were worth $525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RCI. Arrowstreet Capital Limited Partnership grew its stake in shares of Rogers Communication by 123.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock worth $206,565,000 after purchasing an additional 3,717,487 shares during the period. FIL Ltd grew its stake in shares of Rogers Communication by 7.2% during the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock worth $1,028,336,000 after purchasing an additional 2,244,240 shares during the period. Value Partners Investments Inc. grew its stake 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 worth $61,808,000 after purchasing an additional 2,141,227 shares during the period. Bank of Nova Scotia grew its stake in shares of Rogers Communication by 20.6% during the fourth quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider's stock worth $237,784,000 after purchasing an additional 1,320,200 shares during the period. Finally, Intact Investment Management Inc. grew its stake 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 worth $77,827,000 after purchasing an additional 1,042,690 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RCI has been the subject of a number of research analyst reports. Scotiabank reissued a "sector perform" rating on shares of Rogers Communication in a research note on Tuesday. Canaccord Genuity Group raised Rogers Communication from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Rogers Communication in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $67.00.

Rogers Communication Stock Performance

NYSE:RCI traded up $0.23 on Wednesday, hitting $33.66. The company's stock had a trading volume of 1,744,701 shares, compared to its average volume of 1,103,044. The company has a current ratio of 1.00, a quick ratio of 0.94 and a debt-to-equity ratio of 3.97. The stock has a fifty day moving average of $28.08 and a two-hundred day moving average of $27.65. The firm has a market capitalization of $18.11 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.85 and a beta of 0.76. 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 earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.02). Rogers Communication had a net margin of 8.53% and a return on equity of 25.28%. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same period in the previous year, the company posted $0.99 EPS. Rogers Communication's revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts predict that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 9th were given a dividend of $0.3611 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a yield of 4.29%. This is an increase from Rogers Communication's previous quarterly dividend of $0.35. Rogers Communication's dividend payout ratio is currently 62.66%.

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.