Rogers Communication, Inc. (NYSE:RCI) Shares Bought by Intact Investment Management Inc.

Intact Investment Management Inc. lifted its holdings in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 55.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,913,921 shares of the Wireless communications provider's stock after acquiring an additional 1,042,690 shares during the period. Rogers Communication makes up approximately 2.7% of Intact Investment Management Inc.'s investment portfolio, making the stock its 4th largest holding. Intact Investment Management Inc. owned 0.54% of Rogers Communication worth $77,827,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of RCI. DORCHESTER WEALTH MANAGEMENT Co grew its stake in shares of Rogers Communication by 30.1% during the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 317,971 shares of the Wireless communications provider's stock worth $9,693,000 after acquiring an additional 73,618 shares during the last quarter. A&I Financial Services LLC purchased a new stake in shares of Rogers Communication during the fourth quarter worth about $363,000. Jones Financial Companies Lllp grew its stake in shares of Rogers Communication by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock worth $55,000 after acquiring an additional 1,052 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Rogers Communication by 57.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 210,133 shares of the Wireless communications provider's stock valued at $6,457,000 after buying an additional 76,373 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Rogers Communication in the fourth quarter valued at approximately $608,000. Hedge funds and other institutional investors own 45.49% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on RCI. Scotiabank lowered Rogers Communication from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. Canaccord Genuity Group upgraded Rogers Communication from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Rogers Communication currently has a consensus rating of "Hold" and an average price target of $67.00.

Rogers Communication Stock Performance

NYSE RCI traded up $0.20 during trading hours on Friday, reaching $27.78. The stock had a trading volume of 1,680,728 shares, compared to its average volume of 1,022,448. Rogers Communication, Inc. has a 52-week low of $23.18 and a 52-week high of $41.84. The stock has a market cap of $14.94 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.53 and a beta of 0.73. The stock has a fifty day moving average of $26.12 and a 200 day moving average of $27.72. The company has a debt-to-equity ratio of 3.97, a quick ratio of 0.94 and a current ratio of 1.00.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). Rogers Communication had a net margin of 8.53% and a return on equity of 25.28%. The company 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 firm posted $0.99 earnings per share. The company's revenue was up 1.5% compared to the same quarter last year. Sell-side 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 will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be issued a $0.3611 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Rogers Communication's previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 5.20%. Rogers Communication's payout ratio is presently 62.66%.

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.