Ameriprise Financial Inc. Raises Stake in Rogers Communications Inc. (NYSE:RCI)

Ameriprise Financial Inc. boosted its position in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 23.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,041 shares of the Wireless communications provider's stock after purchasing an additional 10,405 shares during the period. Ameriprise Financial Inc.'s holdings in Rogers Communications were worth $1,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Lindbrook Capital LLC raised its position in Rogers Communications by 95.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider's stock valued at $47,000 after purchasing an additional 744 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Rogers Communications by 141.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider's stock worth $55,000 after purchasing an additional 1,052 shares in the last quarter. Headlands Technologies LLC grew its holdings in shares of Rogers Communications by 274.2% during the fourth quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider's stock valued at $163,000 after buying an additional 3,888 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Rogers Communications by 19.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider's stock worth $178,000 after purchasing an additional 930 shares during the period. Finally, Prudential PLC increased its stake in shares of Rogers Communications by 21.6% in the fourth quarter. Prudential PLC now owns 8,734 shares of the Wireless communications provider's stock worth $268,000 after acquiring an additional 1,552 shares during the period. Hedge funds and other institutional investors own 45.49% of the company's stock.

Wall Street Analysts Forecast Growth

RCI has been the topic of several analyst reports. Scotiabank lowered Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $67.00.

Rogers Communications Trading Up 0.7%

Shares of NYSE RCI traded up $0.18 during midday trading on Wednesday, reaching $26.94. 87,626 shares of the stock were exchanged, compared to its average volume of 1,003,069. Rogers Communications Inc. has a twelve month low of $23.18 and a twelve month high of $41.84. The stock has a market capitalization of $14.44 billion, a P/E ratio of 11.63, a PEG ratio of 1.43 and a beta of 0.73. The company has a 50 day simple moving average of $25.54 and a 200 day simple moving average of $28.53. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings data on Wednesday, April 23rd. The Wireless communications provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.02). Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The business's revenue was up 1.5% compared to the same quarter last year. As a group, equities analysts expect that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 9th will be issued a $0.3611 dividend. The ex-dividend date is Monday, June 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.36%. This is a boost from Rogers Communications's previous quarterly dividend of $0.35. Rogers Communications's payout ratio is 59.66%.

About Rogers Communications

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.