Invesco Ltd. Raises 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. grew its position in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 333.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. State of Tennessee Department of Treasury boosted its holdings in Rogers Communication by 0.3% during the 4th quarter. State of Tennessee Department of Treasury now owns 218,308 shares of the Wireless communications provider's stock valued at $6,708,000 after acquiring an additional 720 shares during the period. 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 buying an additional 850 shares in the last quarter. JTC Employer Solutions Trustee Ltd increased its position in Rogers Communication by 1.2% during the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 102,545 shares of the Wireless communications provider's stock valued at $2,755,000 after buying an additional 1,180 shares in the last quarter. 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 buying an additional 1,363 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Rogers Communication by 10.3% in the 1st quarter. M&T Bank Corp now owns 19,739 shares of the Wireless communications provider's stock worth $527,000 after purchasing an additional 1,846 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

Rogers Communication Stock Up 1.5%

Shares of RCI traded up $0.53 during midday trading on Wednesday, hitting $35.78. 998,959 shares of the company's stock traded hands, compared to its average volume of 1,002,825. Rogers Communication, Inc. has a 1 year low of $23.18 and a 1 year high of $41.84. The firm's fifty day moving average is $32.99 and its 200-day moving average is $28.79. 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 stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.02. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the prior year, the firm earned $1.16 EPS. The firm's revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate 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 Friday, October 3rd. Shareholders of record on Monday, September 8th will be given a dividend of $0.3672 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $1.47 annualized dividend and a yield of 4.1%. This is an increase from Rogers Communication's previous quarterly dividend of $0.36. Rogers Communication's payout ratio is 72.64%.

Analysts Set New Price Targets

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

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.