Public Employees Retirement System of Ohio Lowers Stock Holdings in Rogers Communication, Inc. $RCI

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Rogers Communication, Inc. by 27.9% during the second quarter, selling 67,048 shares to hold a total of 173,024 shares worth approximately $5.13 million.
• Despite a decrease in holdings by some investors, SBI Securities Co. Ltd. significantly increased its stake by 885.4%, showcasing mixed investor sentiment toward the stock.
• Rogers Communication has announced a dividend increase to $0.3672 per share, with an upcoming ex-dividend date of September 8th, reflecting a dividend yield of 4.1%.

Public Employees Retirement System of Ohio trimmed its stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 27.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,024 shares of the Wireless communications provider's stock after selling 67,048 shares during the period. Public Employees Retirement System of Ohio's holdings in Rogers Communication were worth $5,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. boosted its position in Rogers Communication by 885.4% in 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 during the period. A&I Financial Services LLC boosted its position in Rogers Communication by 6.6% in the 2nd quarter. A&I Financial Services LLC now owns 20,928 shares of the Wireless communications provider's stock valued at $621,000 after buying an additional 1,291 shares during the period. CWM LLC boosted its position in Rogers Communication by 57.4% in 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 during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Rogers Communication by 48.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,231 shares of the Wireless communications provider's stock valued at $113,000 after purchasing an additional 1,389 shares in the last quarter. Finally, M&T Bank Corp raised 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 valued at $527,000 after purchasing an additional 1,846 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RCI has been the subject of several recent research reports. BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Barclays boosted their price target on shares of Rogers Communication from $31.00 to $33.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. Finally, Scotiabank restated a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $33.00.

Rogers Communication Stock Down 0.1%

RCI stock opened at $35.64 on Tuesday. The firm's fifty day simple moving average is $34.98 and its 200-day simple moving average is $30.03. The company has a market capitalization of $19.17 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79. 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 $40.28.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.80 by $0.02. The business had revenue of $3.82 billion for 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 business's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. As a group, equities research analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 8th. This represents a $1.47 annualized dividend and a dividend yield of 4.1%. Rogers Communication's 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.

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