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 position 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 disclosure with the Securities & Exchange Commission. The firm owned 2,303,155 shares of the Wireless communications provider's stock after selling 8,981 shares during the period. Rogers Communication makes up approximately 5.3% of Value Partners Investments Inc.'s investment portfolio, making the stock its 4th largest position. Value Partners Investments Inc. owned about 0.43% of Rogers Communication worth $68,185,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RCI. Northern Trust Corp boosted its holdings in shares of Rogers Communication by 10.7% during the fourth quarter. Northern Trust Corp now owns 158,002 shares of the Wireless communications provider's stock worth $4,855,000 after acquiring an additional 15,295 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Rogers Communication by 23.3% during the fourth quarter. Ameriprise Financial Inc. now owns 55,041 shares of the Wireless communications provider's stock worth $1,812,000 after acquiring an additional 10,405 shares during the period. Gotham Asset Management LLC boosted its holdings in shares of Rogers Communication by 210.8% during the fourth quarter. Gotham Asset Management LLC now owns 30,718 shares of the Wireless communications provider's stock worth $944,000 after acquiring an additional 20,833 shares during the period. Polar Asset Management Partners Inc. boosted its holdings in shares of Rogers Communication by 239.5% during the fourth quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the Wireless communications provider's stock worth $1,306,000 after acquiring an additional 29,982 shares during the period. Finally, Tidal Investments LLC boosted its holdings in shares of Rogers Communication by 198.3% during the fourth quarter. Tidal Investments LLC now owns 18,431 shares of the Wireless communications provider's stock worth $566,000 after acquiring an additional 12,253 shares during the period. Institutional investors own 45.49% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RCI shares. BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Scotiabank reiterated a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday, July 15th. Finally, Barclays lifted 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 report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $33.00.

Rogers Communication Price Performance

NYSE RCI traded up $0.17 on Friday, hitting $35.33. 238,671 shares of the company's stock were exchanged, compared to its average volume of 1,195,292. The stock has a 50-day moving average of $34.70 and a 200-day moving average of $29.65. 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 52 week low of $23.18 and a 52 week high of $40.70. The stock has a market cap of $19.01 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.37 and a beta of 0.79.

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. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.The firm had revenue of $3.82 billion during the quarter, compared to analysts' expectations of $5.12 billion. During the same period in the prior year, the company earned $1.16 earnings per share. The company's quarterly revenue was up 2.4% on a year-over-year basis. Analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 8th will be issued a dividend of $0.3672 per share. This represents a $1.47 annualized dividend and a dividend yield of 4.2%. This is a boost from Rogers Communication's previous quarterly dividend of $0.36. The ex-dividend date is Monday, September 8th. Rogers Communication's dividend payout ratio (DPR) is currently 71.64%.

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.