Gulf International Bank UK Ltd Raises Position in Rogers Communication, Inc. $RCI

Key Points

• Gulf International Bank UK Ltd increased its stake in Rogers Communication by an impressive 2,470.6%, acquiring an additional 19,864 shares and bringing its total holdings to 20,668 shares worth $552,000.
• The company announced a quarterly dividend of $0.3672, reflecting an increase from the previous dividend of $0.36, which results in an annualized yield of 4.2%.
• Rogers Communication reported $0.82 EPS for the latest quarter, exceeding analysts' expectations, and had a revenue of $3.82 billion, up 2.4% compared to the previous year.

Gulf International Bank UK Ltd lifted its stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 2,470.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,668 shares of the Wireless communications provider's stock after purchasing an additional 19,864 shares during the quarter. Gulf International Bank UK Ltd's holdings in Rogers Communication were worth $552,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RCI. Polar Asset Management Partners Inc. grew its holdings in 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 buying an additional 29,982 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Rogers Communication by 280.2% during 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 acquiring an additional 178,145 shares during the last quarter. Gotham Asset Management LLC grew its holdings in shares of Rogers Communication by 210.8% in the fourth quarter. Gotham Asset Management LLC now owns 30,718 shares of the Wireless communications provider's stock valued at $944,000 after purchasing an additional 20,833 shares during the period. A&I Financial Services LLC increased its position in Rogers Communication by 66.0% during the first 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 during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Rogers Communication by 3.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 455,687 shares of the Wireless communications provider's stock worth $12,306,000 after purchasing an additional 14,606 shares during the period. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communication Trading Up 0.4%

Rogers Communication stock traded up $0.1480 during trading on Friday, hitting $35.7480. The company had a trading volume of 145,130 shares, compared to its average volume of 1,232,511. The stock has a market cap of $19.23 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 2.30 and a beta of 0.77. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 2.23. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $41.84. The company's 50 day simple moving average is $32.36 and its 200-day simple moving average is $28.57.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.02. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.The company had revenue of $3.82 billion for the quarter, compared to analysts' expectations of $5.12 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. The firm's revenue was up 2.4% compared to the same quarter last year. As a group, analysts expect that Rogers Communication, Inc. will post 3.57 EPS 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. Investors of record on Monday, September 8th will be issued a dividend of $0.3672 per share. This is a positive change from Rogers Communication's previous quarterly dividend of $0.36. The ex-dividend date is Monday, September 8th. This represents a $1.47 dividend on an annualized basis and a yield of 4.1%. Rogers Communication's dividend payout ratio (DPR) is 72.64%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RCI shares. Barclays increased their price target on shares of Rogers Communication from $31.00 to $33.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. BMO Capital Markets reiterated an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Finally, Scotiabank reiterated a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday, July 15th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $59.00.

About Rogers Communication

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.