Cerity Partners LLC Makes New $275,000 Investment in Rogers Communication, Inc. (NYSE:RCI)

Key Points

• Cerity Partners LLC acquired a new stake in Rogers Communication, Inc. during the first quarter, purchasing 10,283 shares valued at approximately $275,000.
• Rogers Communication recently announced a quarterly dividend of $0.3672, representing an annualized dividend of $1.47 with a yield of 4.28%.
• The company reported earnings of $0.82 EPS, exceeding analysts' estimates of $0.80, alongside a revenue of $3.82 billion for the quarter.

Cerity Partners LLC purchased a new position in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,283 shares of the Wireless communications provider's stock, valued at approximately $275,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Rogers Communication during the fourth quarter valued at $608,000. American Century Companies Inc. lifted its position in Rogers Communication by 9.3% during the fourth quarter. American Century Companies Inc. now owns 78,308 shares of the Wireless communications provider's stock valued at $2,407,000 after purchasing an additional 6,661 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in Rogers Communication by 19.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 182,728 shares of the Wireless communications provider's stock valued at $5,614,000 after purchasing an additional 30,015 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in 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 valued at $206,565,000 after purchasing an additional 3,717,487 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Rogers Communication by 95.6% during the fourth quarter. Wellington Management Group LLP now owns 43,424 shares of the Wireless communications provider's stock valued at $1,334,000 after purchasing an additional 21,226 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Price Performance

Shares of RCI stock traded down $0.26 during trading hours on Thursday, hitting $33.09. The stock had a trading volume of 224,345 shares, compared to its average volume of 1,257,916. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.70 and a quick ratio of 1.64. The stock has a market capitalization of $17.80 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.82 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. The stock's 50-day moving average price is $29.90 and its two-hundred day moving average price is $27.91.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its 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 company had revenue of $3.82 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 earnings per share. Equities analysts forecast that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Increases Dividend

The company 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 $0.3672 dividend. This is an increase from Rogers Communication's previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Monday, September 8th. Rogers Communication's payout ratio is currently 72.64%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RCI. BMO Capital Markets reiterated an "outperform" rating on shares of Rogers Communication in a research report on Wednesday, July 2nd. Scotiabank reiterated a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday, July 15th. Finally, Canaccord Genuity Group upgraded Rogers Communication from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. 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's stock. According to MarketBeat.com, Rogers Communication has a consensus rating of "Hold" and a consensus target price of $72.00.

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.