Allianz Asset Management GmbH Has $475,000 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 lowered its position in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 43.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,781 shares of the Wireless communications provider's stock after selling 13,677 shares during the period. Allianz Asset Management GmbH's holdings in Rogers Communication were worth $475,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. SBI Securities Co. Ltd. boosted its position 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 buying an additional 850 shares during the period. Versant Capital Management Inc purchased a new stake in Rogers Communication in the first quarter valued at $79,000. CWM LLC boosted its holdings in Rogers Communication by 57.4% in the first quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock valued at $100,000 after purchasing an additional 1,363 shares during the last quarter. TD Private Client Wealth LLC boosted 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 valued at $137,000 after purchasing an additional 3,718 shares during the last quarter. Finally, Headlands Technologies LLC boosted its holdings in Rogers Communication by 274.2% in the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock valued at $163,000 after purchasing an additional 3,888 shares during the last quarter. Institutional investors own 45.49% of the company's stock.

Wall Street Analysts Forecast Growth

RCI has been the topic of several recent analyst reports. Scotiabank reissued a "sector perform" rating on shares of Rogers Communication in a research note on Tuesday, July 15th. 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, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Rogers Communication presently has an average rating of "Hold" and an average target price of $72.00.

Rogers Communication Trading Down 0.6%

Shares of NYSE RCI traded down $0.22 during midday trading on Wednesday, reaching $33.46. 333,832 shares of the stock were exchanged, compared to its average volume of 1,256,383. The company has a 50 day simple moving average of $30.50 and a 200 day simple moving average of $28.05. The stock has a market capitalization of $18.00 billion, a P/E ratio of 16.65, a PEG ratio of 1.84 and a beta of 0.77. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.64 and a current ratio of 1.70. Rogers Communication, Inc. has a twelve month low of $23.18 and a twelve month high of $41.84.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.02. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $5.12 billion. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The business's revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 EPS. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 8th will be issued a dividend of $0.3672 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $1.47 annualized dividend and a yield of 4.4%. This is an increase from Rogers Communication's previous quarterly dividend of $0.36. Rogers Communication's dividend payout ratio (DPR) is 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.