Rogers Communication, Inc. $RCI Stock Position Increased by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Rogers Communication, owning 443,299 shares worth approximately $11.85 million, marking a 28.8% increase.
• Rogers Communication recently approved a quarterly dividend increase to $0.3672, enhancing its annualized dividend yield to 4.2%.
• Wall Street analysts maintain a consensus rating of "Hold" for Rogers Communication, with an average price target of $59.00, reflecting a mix of buy, hold, and sell ratings.

Northwest & Ethical Investments L.P. lifted its stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 28.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 443,299 shares of the Wireless communications provider's stock after buying an additional 99,168 shares during the period. Northwest & Ethical Investments L.P. owned approximately 0.08% of Rogers Communication worth $11,846,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. American Century Companies Inc. increased its position in shares of Rogers Communication by 4.7% during the first quarter. American Century Companies Inc. now owns 82,005 shares of the Wireless communications provider's stock worth $2,190,000 after acquiring an additional 3,697 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Rogers Communication by 2,470.6% during the first quarter. Gulf International Bank UK Ltd now owns 20,668 shares of the Wireless communications provider's stock worth $552,000 after acquiring an additional 19,864 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Rogers Communication during the first quarter worth about $200,000. Nuveen LLC purchased a new stake in shares of Rogers Communication during the first quarter worth about $8,167,000. Finally, Aigen Investment Management LP increased its position in shares of Rogers Communication by 56.3% during the first quarter. Aigen Investment Management LP now owns 37,045 shares of the Wireless communications provider's stock worth $990,000 after acquiring an additional 13,347 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communication Stock Performance

Shares of NYSE:RCI traded up $0.2190 during trading on Friday, reaching $35.8190. 226,717 shares of the company's stock traded hands, compared to its average volume of 1,233,093. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.70 and a quick ratio of 1.64. Rogers Communication, Inc. has a 12 month low of $23.18 and a 12 month high of $41.84. The company has a 50 day moving average of $32.36 and a 200-day moving average of $28.57. The stock has a market capitalization of $19.27 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 2.30 and a beta of 0.77.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.02. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts expect that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors 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 dividend on an annualized basis and a dividend yield of 4.1%. This is a boost from Rogers Communication's previous quarterly dividend of $0.36. Rogers Communication's payout ratio is currently 72.64%.

Wall Street Analyst Weigh In

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

Rogers Communication Company 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.