Rogers Communication, Inc. $RCI Shares Sold by Value Partners Investments Inc.

Key Points

• Value Partners Investments Inc. reduced its holdings in Rogers Communication by 0.4%, currently owning 2,303,155 shares, which represents 5.3% of its investment portfolio.
• The company announced a quarterly dividend increase to $0.3672 per share, which reflects an annualized dividend yield of 4.1% based on a payout ratio of 71.64%.
• Analysts have a consensus "Hold" rating for Rogers Communication, with a target price forecasted at $59.00, reflecting varying perspectives on the stock's potential performance.

Value Partners Investments Inc. lessened its holdings in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 0.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,303,155 shares of the Wireless communications provider's stock after selling 8,981 shares during the quarter. Rogers Communication accounts for about 5.3% of Value Partners Investments Inc.'s investment portfolio, making the stock its 4th largest holding. Value Partners Investments Inc. owned approximately 0.43% of Rogers Communication worth $68,185,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. increased its position in Rogers Communication by 885.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock worth $25,000 after purchasing an additional 850 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Rogers Communication during the 1st quarter worth approximately $79,000. CWM LLC increased its position in Rogers Communication by 57.4% during the 1st quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock worth $100,000 after purchasing an additional 1,363 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Rogers Communication by 48.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,231 shares of the Wireless communications provider's stock worth $113,000 after purchasing an additional 1,389 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its position in Rogers Communication by 263.1% during the 1st quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider's stock worth $137,000 after purchasing an additional 3,718 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RCI. Barclays upped their price target on Rogers Communication from $31.00 to $33.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Finally, Scotiabank restated a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $59.00.

Rogers Communication Stock Performance

Rogers Communication stock opened at $35.78 on Friday. The stock has a market cap of $19.25 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 2.34 and a beta of 0.79. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 2.23. The stock has a 50 day moving average of $34.44 and a 200-day moving average of $29.45. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $41.20.

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 EPS for the quarter, beating the consensus estimate of $0.80 by $0.02. The company had revenue of $3.82 billion during the quarter, compared to analysts' expectations of $5.12 billion. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.The business's revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 EPS. On average, analysts expect that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Increases Dividend

The firm also recently announced 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 is an increase from Rogers Communication's previous quarterly dividend of $0.36. The ex-dividend date is Monday, September 8th. This represents a $1.47 annualized dividend and a dividend yield of 4.1%. Rogers Communication's dividend payout ratio (DPR) is currently 71.64%.

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.

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