Aviso Financial Inc. Decreases Stake in Rogers Communication, Inc. $RCI

Key Points

• Aviso Financial Inc. significantly reduced its stake in Rogers Communication by 73.2%, selling 357,406 shares during the first quarter, leaving it with 131,032 shares valued at approximately $3.5 million.
• Despite Aviso's reduction, several other hedge funds increased their positions in Rogers Communication, with Value Partners Investments Inc. raising its stake by 1,252.8% during the same quarter.
• Rogers Communication recently increased its quarterly dividend to $0.3672 per share, representing an annual yield of 4.2% and a dividend payout ratio of 71.64%.

Aviso Financial Inc. lowered its holdings in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 73.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,032 shares of the Wireless communications provider's stock after selling 357,406 shares during the quarter. Aviso Financial Inc.'s holdings in Rogers Communication were worth $3,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of RCI. Value Partners Investments Inc. raised its stake in shares of Rogers Communication by 1,252.8% in 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 last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Rogers Communication by 380.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,348,091 shares of the Wireless communications provider's stock worth $62,717,000 after purchasing an additional 1,859,288 shares during the last quarter. Intact Investment Management Inc. raised its stake in shares of Rogers Communication by 55.7% in 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 last quarter. Letko Brosseau & Associates Inc. raised its stake in shares of Rogers Communication by 23.5% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 5,210,380 shares of the Wireless communications provider's stock worth $160,094,000 after purchasing an additional 992,780 shares during the last quarter. Finally, Burgundy Asset Management Ltd. increased its position in Rogers Communication by 38.6% during the first quarter. Burgundy Asset Management Ltd. now owns 3,509,952 shares of the Wireless communications provider's stock valued at $93,828,000 after acquiring an additional 978,348 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communication Stock Performance

Shares of RCI opened at $35.34 on Monday. 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 business has a 50-day simple moving average of $31.71 and a two-hundred day simple moving average of $28.37. The stock has a market cap of $19.01 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.30 and a beta of 0.77. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $41.84.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 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 analysts' expectations of $5.12 billion. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%. The business's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.16 earnings per share. On average, analysts expect that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 8th will be given a $0.3672 dividend. The ex-dividend date is Monday, September 8th. This is a positive change 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%. Rogers Communication's dividend payout ratio (DPR) is currently 71.64%.

Wall Street Analyst Weigh In

A number of research firms recently commented on RCI. BMO Capital Markets reiterated an "outperform" rating on shares of Rogers Communication in a research report on Wednesday, July 2nd. Barclays upped their price objective on Rogers Communication from $31.00 to $33.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. Finally, Scotiabank reiterated a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $59.00.

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.

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