Northern Trust Corp Boosts Position in Rogers Communications Inc. (NYSE:RCI)

Northern Trust Corp increased 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 disclosure with the Securities and Exchange Commission. The fund owned 158,002 shares of the Wireless communications provider's stock after purchasing an additional 15,295 shares during the quarter. Northern Trust Corp's holdings in Rogers Communications were worth $4,855,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. raised its position in shares of Rogers Communications by 1.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 23,563 shares of the Wireless communications provider's stock valued at $725,000 after purchasing an additional 379 shares during the period. Forsta AP Fonden boosted its stake in shares of Rogers Communications by 3.2% during the 4th quarter. Forsta AP Fonden now owns 84,400 shares of the Wireless communications provider's stock worth $2,593,000 after purchasing an additional 2,600 shares during the period. Waldron Private Wealth LLC lifted its holdings in Rogers Communications by 3.1% during the 4th quarter. Waldron Private Wealth LLC now owns 21,943 shares of the Wireless communications provider's stock valued at $682,000 after buying an additional 660 shares in the last quarter. Vest Financial LLC lifted its holdings in Rogers Communications by 59.2% during the 4th quarter. Vest Financial LLC now owns 24,623 shares of the Wireless communications provider's stock valued at $757,000 after buying an additional 9,160 shares in the last quarter. Finally, American Capital Advisory LLC lifted its holdings in Rogers Communications by 1,349.5% during the 4th quarter. American Capital Advisory LLC now owns 16,945 shares of the Wireless communications provider's stock valued at $521,000 after buying an additional 15,776 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

Wall Street Analyst Weigh In

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

Rogers Communications Stock Up 1.8%

NYSE RCI traded up $0.46 on Tuesday, hitting $26.55. 1,146,919 shares of the stock were exchanged, compared to its average volume of 1,013,456. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. Rogers Communications Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $41.84. The company has a market cap of $14.23 billion, a PE ratio of 11.44, a PEG ratio of 1.43 and a beta of 0.73. The company has a 50-day moving average price of $25.62 and a 200-day moving average price of $28.85.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings results 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). The business had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $4.96 billion. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. Sell-side analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current fiscal 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 5.44%. 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%.

Rogers Communications Company 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.