Intact Investment Management Inc. Sells 1,018,080 Shares of Rogers Communication, Inc. $RCI

Key Points

• Intact Investment Management reduced its stake in Rogers by 31.3%, selling 1,018,080 shares and now owning 2,229,401 shares (~0.41% of Rogers) valued at about $84.15 million, making RCI its 7th largest holding.
• Rogers trades near $36.45 with a market cap of roughly $19.7B, a low P/E of 3.84, and recently declared a quarterly dividend of $0.50 (annualized $2.00) for a 5.5% yield
• Analysts are divided—consensus rating is "Hold" with an average target of $36.00 (four Buys, four Holds, one Sell)—and institutional investors own about 45.5% of the stock.

Intact Investment Management Inc. decreased its stake in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 31.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,229,401 shares of the Wireless communications provider's stock after selling 1,018,080 shares during the period. Rogers Communication accounts for about 2.4% of Intact Investment Management Inc.'s holdings, making the stock its 7th largest position. Intact Investment Management Inc. owned about 0.41% of Rogers Communication worth $84,151,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Van ECK Associates Corp increased its holdings in shares of Rogers Communication by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 5,889 shares of the Wireless communications provider's stock valued at $203,000 after acquiring an additional 334 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Rogers Communication by 107.4% during the 4th quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider's stock valued at $30,000 after purchasing an additional 407 shares during the period. Gold Investment Management Ltd. boosted its stake in Rogers Communication by 1.7% during the 4th quarter. Gold Investment Management Ltd. now owns 29,721 shares of the Wireless communications provider's stock valued at $1,122,000 after purchasing an additional 488 shares during the period. Public Sector Pension Investment Board boosted its stake in Rogers Communication by 1.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 37,181 shares of the Wireless communications provider's stock valued at $1,101,000 after purchasing an additional 640 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Rogers Communication by 52.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider's stock valued at $59,000 after purchasing an additional 683 shares during the period. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communication Price Performance

Shares of RCI stock opened at $36.45 on Monday. The stock has a 50 day moving average of $37.25 and a two-hundred day moving average of $37.44. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. Rogers Communication, Inc. has a 12 month low of $24.80 and a 12 month high of $41.14. The company has a market capitalization of $19.69 billion, a P/E ratio of 3.84, a P/E/G ratio of 3.20 and a beta of 0.61.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter last year, the company earned $0.99 EPS. The company's quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts expect that Rogers Communication, Inc. will post 3.55 EPS for the current year.

Rogers Communication Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 9th will be given a $0.50 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.5%. Rogers Communication's dividend payout ratio (DPR) is currently 15.51%.

Analyst Ratings Changes

Several analysts recently weighed in on RCI shares. Scotiabank upgraded Rogers Communication from a "hold" rating to an "outperform" rating in a research note on Thursday, April 23rd. TD Cowen reiterated a "buy" rating on shares of Rogers Communication in a research note on Friday, January 30th. Wall Street Zen cut shares of Rogers Communication from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. Desjardins reiterated a "hold" rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Rogers Communication in a research note on Tuesday, January 13th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $36.00.

Rogers Communication Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.

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