Intact Investment Management Inc. Boosts Stake in Rogers Communication, Inc. (NYSE:RCI)

Intact Investment Management Inc. lifted its stake 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 Securities & Exchange Commission. The firm owned 2,913,921 shares of the Wireless communications provider's stock after purchasing an additional 1,042,690 shares during the period. Rogers Communication makes up about 2.7% of Intact Investment Management Inc.'s holdings, making the stock its 4th biggest position. Intact Investment Management Inc. owned 0.54% of Rogers Communication worth $77,827,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. FIL Ltd boosted its stake in shares of Rogers Communication by 7.2% during the 4th quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock worth $1,028,336,000 after acquiring an additional 2,244,240 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Rogers Communication by 20.6% in the 4th quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider's stock worth $237,784,000 after buying an additional 1,320,200 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Rogers Communication by 123.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock worth $206,565,000 after purchasing an additional 3,717,487 shares in the last quarter. Letko Brosseau & Associates Inc. lifted its holdings in Rogers Communication by 23.5% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 5,210,380 shares of the Wireless communications provider's stock valued at $160,094,000 after purchasing an additional 992,780 shares during the last quarter. Finally, Scotia Capital Inc. increased its holdings in shares of Rogers Communication by 18.3% during the fourth quarter. Scotia Capital Inc. now owns 3,697,645 shares of the Wireless communications provider's stock worth $113,217,000 after buying an additional 572,270 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communication Stock Up 3.5%

Shares of NYSE RCI traded up $0.98 during trading hours on Tuesday, hitting $29.14. The company had a trading volume of 2,178,382 shares, compared to its average volume of 1,026,944. The firm's 50 day moving average is $26.18 and its 200-day moving average is $27.67. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $41.84. The stock has a market capitalization of $15.68 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 1.55 and a beta of 0.73. The company has a quick ratio of 0.94, a current ratio of 1.00 and a debt-to-equity ratio of 3.97.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings data on Wednesday, April 23rd. The Wireless communications provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). Rogers Communication had a return on equity of 25.28% and a net margin of 8.53%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the prior year, the company earned $0.99 EPS. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. On average, analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 9th will be given a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Rogers Communication's previous quarterly dividend of $0.35. Rogers Communication's dividend payout ratio (DPR) is currently 62.66%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Canaccord Genuity Group raised Rogers Communication from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Scotiabank cut shares of Rogers Communication from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Rogers Communication presently has a consensus rating of "Hold" and a consensus target price of $67.00.

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.