Allianz Asset Management GmbH Trims Stock Holdings in Rogers Communication, Inc. (NYSE:RCI)

Key Points

• Allianz Asset Management GmbH reduced its stake in Rogers Communication by 43.5%, owning 17,781 shares worth approximately $475,000 after selling 13,677 shares in the first quarter.
• Despite the reduction by Allianz, other hedge funds significantly increased their positions, with SBI Securities Co. Ltd. raising its stake by 885.4% during the same period.
• Rogers Communication's quarterly earnings report showed a 2.4% year-over-year revenue increase and an EPS of $0.82, which beat analysts' expectations.

Allianz Asset Management GmbH decreased its stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 43.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,781 shares of the Wireless communications provider's stock after selling 13,677 shares during the quarter. Allianz Asset Management GmbH's holdings in Rogers Communication were worth $475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. increased its position in Rogers Communication by 885.4% in the first quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock worth $25,000 after buying an additional 850 shares in the last quarter. Versant Capital Management Inc purchased a new stake in Rogers Communication in the first quarter worth about $79,000. CWM LLC increased its position in Rogers Communication by 57.4% in the first quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock worth $100,000 after buying an additional 1,363 shares in the last quarter. TD Private Client Wealth LLC grew its position in shares of Rogers Communication by 263.1% during 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 in the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Rogers Communication by 274.2% during the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock worth $163,000 after purchasing an additional 3,888 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Scotiabank reiterated a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday, July 15th. BMO Capital Markets reiterated an "outperform" rating on shares of Rogers Communication in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Rogers Communication presently has a consensus rating of "Hold" and a consensus target price of $72.00.

Rogers Communication Price Performance

Shares of Rogers Communication stock opened at $33.70 on Friday. The stock has a 50 day moving average of $30.19 and a 200 day moving average of $27.97. Rogers Communication, Inc. has a 12 month low of $23.18 and a 12 month high of $41.84. The firm has a market cap of $18.13 billion, a PE ratio of 16.77, a PEG ratio of 1.82 and a beta of 0.77. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 2.23.

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

Rogers Communication Increases Dividend

The business also recently disclosed 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 represents a $1.47 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend 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 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.

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