Rogers Communications Inc. (NYSE:RCI) Shares Purchased by Northern Trust Corp

Northern Trust Corp raised its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,002 shares of the Wireless communications provider's stock after purchasing an additional 15,295 shares during the period. Northern Trust Corp's holdings in Rogers Communications were worth $4,855,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on RCI shares. Canaccord Genuity Group raised Rogers Communications from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Scotiabank lowered Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a report on Tuesday, April 1st. One investment 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, the company currently has a consensus rating of "Hold" and an average target price of $67.00.

Rogers Communications Stock Performance

NYSE RCI opened at $25.90 on Thursday. The stock has a market capitalization of $13.88 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.43 and a beta of 0.73. The business's 50 day moving average is $25.79 and its two-hundred day moving average is $29.20. Rogers Communications Inc. has a 12-month low of $23.18 and a 12-month high of $41.84. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67.

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

Rogers Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 9th will be issued a $0.3611 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date is Monday, June 9th. This is an increase from Rogers Communications's previous quarterly dividend of $0.35. Rogers Communications's dividend payout ratio (DPR) is currently 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.

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