Rogers Communication, Inc. $RCI Shares Bought 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. boosted its stake in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 28.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 0.08% of Rogers Communication worth $11,846,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Polar Asset Management Partners Inc. increased its position in shares of Rogers Communication by 239.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the Wireless communications provider's stock valued at $1,306,000 after acquiring an additional 29,982 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Rogers Communication by 280.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 241,730 shares of the Wireless communications provider's stock valued at $7,428,000 after buying an additional 178,145 shares in the last quarter. Gotham Asset Management LLC lifted its stake in Rogers Communication by 210.8% in the 4th quarter. Gotham Asset Management LLC now owns 30,718 shares of the Wireless communications provider's stock worth $944,000 after purchasing an additional 20,833 shares in the last quarter. A&I Financial Services LLC lifted its stake in Rogers Communication by 66.0% in the 1st quarter. A&I Financial Services LLC now owns 19,637 shares of the Wireless communications provider's stock worth $525,000 after purchasing an additional 7,810 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Rogers Communication by 3.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 455,687 shares of the Wireless communications provider's stock worth $12,306,000 after buying an additional 14,606 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RCI. Scotiabank reiterated a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. 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 report on Tuesday, August 12th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $59.00.

Rogers Communication Stock Up 0.0%

Rogers Communication stock traded up $0.0120 during midday trading on Tuesday, hitting $35.1820. 808,609 shares of the stock were exchanged, compared to its average volume of 1,249,183. Rogers Communication, Inc. has a 1 year low of $23.18 and a 1 year high of $41.84. The firm has a market cap of $18.93 billion, a P/E ratio of 17.50, a P/E/G ratio of 2.29 and a beta of 0.77. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.70 and a quick ratio of 1.64. The company has a 50 day moving average price of $32.04 and a two-hundred day moving average price of $28.47.

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 for the quarter, topping the consensus estimate of $0.80 by $0.02. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $5.12 billion. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The company's revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 EPS. On average, sell-side 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. Shareholders of record on Monday, September 8th will be paid a dividend of $0.3672 per share. This represents a $1.47 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Rogers Communication's previous quarterly dividend of $0.36. Rogers Communication's dividend payout ratio (DPR) is presently 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.