Quantbot Technologies LP Takes Position in Rogers Communication, Inc. $RCI

Key Points

• Quantbot Technologies LP acquired 41,594 shares of Rogers Communication, Inc. worth approximately $1,112,000 during the first quarter.
• Rogers Communication announced a new quarterly dividend of $0.3672 per share, increasing from $0.36, representing an annualized yield of 4.1%.
• Institutional investors hold 45.49% of Rogers Communication's stock, showing significant interest from larger investment firms.

Quantbot Technologies LP purchased a new stake in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,594 shares of the Wireless communications provider's stock, valued at approximately $1,112,000.

Several other large investors also recently modified their holdings of RCI. Northern Trust Corp raised its holdings in shares of Rogers Communication by 112.3% in the 1st quarter. Northern Trust Corp now owns 335,459 shares of the Wireless communications provider's stock worth $8,967,000 after buying an additional 177,457 shares in the last quarter. Burgundy Asset Management Ltd. raised its holdings in shares of Rogers Communication by 38.6% in the 1st quarter. Burgundy Asset Management Ltd. now owns 3,509,952 shares of the Wireless communications provider's stock worth $93,828,000 after buying an additional 978,348 shares in the last quarter. Northwest & Ethical Investments L.P. raised its holdings in shares of Rogers Communication by 28.8% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 443,299 shares of the Wireless communications provider's stock worth $11,846,000 after buying an additional 99,168 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Rogers Communication by 4.7% in the 1st quarter. American Century Companies Inc. now owns 82,005 shares of the Wireless communications provider's stock worth $2,190,000 after buying an additional 3,697 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its holdings in shares of Rogers Communication by 2,470.6% in the 1st quarter. Gulf International Bank UK Ltd now owns 20,668 shares of the Wireless communications provider's stock worth $552,000 after buying an additional 19,864 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

Rogers Communication Trading Up 0.4%

Shares of NYSE RCI traded up $0.16 during midday trading on Friday, hitting $35.86. The stock had a trading volume of 598,167 shares, compared to its average volume of 934,057. The firm has a market cap of $19.29 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 2.32 and a beta of 0.77. Rogers Communication, Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $41.84. 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's 50-day simple moving average is $33.32 and its 200 day simple moving average is $28.91.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly 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 business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts anticipate that Rogers Communication, Inc. will post 3.57 EPS for the current year.

Rogers Communication Increases Dividend

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

Wall Street Analysts Forecast Growth

RCI has been the subject of a number of recent research reports. BMO Capital Markets reissued an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Barclays increased their target price on Rogers Communication from $31.00 to $33.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Finally, Scotiabank reissued a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. 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 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.