Invesco Ltd. Increases Stock Position in Rogers Communication, Inc. $RCI

Key Points

• Invesco Ltd. has significantly increased its stake in Rogers Communication by 333.1%, acquiring an additional 471,930 shares in the first quarter, now owning approximately 613,588 shares valued at $16.4 million.
• Several other institutional investors have also raised their positions in Rogers Communication, with institutional ownership now at 45.49%.
• Rogers Communication has announced a quarterly dividend increase, with shareholders receiving $0.3672 per share, representing a yield of 4.1%.

Invesco Ltd. raised its position in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 333.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 613,588 shares of the Wireless communications provider's stock after purchasing an additional 471,930 shares during the quarter. Invesco Ltd. owned approximately 0.11% of Rogers Communication worth $16,401,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. increased its position in Rogers Communication by 885.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock valued at $25,000 after purchasing an additional 850 shares during the period. Versant Capital Management Inc acquired a new stake in Rogers Communication during the 1st quarter valued at approximately $79,000. CWM LLC increased its position in Rogers Communication by 57.4% during the 1st quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock valued at $100,000 after purchasing an additional 1,363 shares during the period. TD Private Client Wealth LLC increased its position in Rogers Communication by 263.1% during the 1st quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider's stock valued at $137,000 after purchasing an additional 3,718 shares during the period. Finally, ASR Vermogensbeheer N.V. acquired a new stake in Rogers Communication during the 1st quarter valued at approximately $236,000. Institutional investors and hedge funds own 45.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RCI. Barclays increased their target price on shares of Rogers Communication from $31.00 to $33.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Finally, Scotiabank restated a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rogers Communication currently has a consensus rating of "Hold" and a consensus target price of $59.00.

Rogers Communication Stock Down 0.4%

Shares of RCI traded down $0.1450 during trading hours on Monday, reaching $35.4950. The stock had a trading volume of 615,741 shares, compared to its average volume of 1,232,523. Rogers Communication, Inc. has a 12 month low of $23.18 and a 12 month high of $41.84. The firm has a 50-day simple moving average of $32.52 and a 200 day simple moving average of $28.64. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 2.23. The company has a market capitalization of $19.10 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 2.32 and a beta of 0.77.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.02. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.The company had revenue of $3.82 billion for the quarter, compared to analysts' expectations of $5.12 billion. During the same period last year, the business earned $1.16 EPS. Rogers Communication's quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts predict that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 8th will be issued a $0.3672 dividend. This is an increase from Rogers Communication's previous quarterly dividend of $0.36. This represents a $1.47 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Monday, September 8th. Rogers Communication's dividend payout ratio is currently 72.64%.

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.