Swiss Life Asset Management Ltd Has $3.41 Million Stock Position in Rogers Communication, Inc. $RCI

Key Points

• Swiss Life Asset Management boosted its stake in Rogers Communication by 66.8% in the fourth quarter, owning 90,206 shares worth about $3.41 million.
• Other institutional investors also increased their positions, and hedge funds now own 45.49% of Rogers Communication’s stock.
• Analysts are mixed on the stock, with an average rating of Hold and a target price of $36.00; Rogers recently beat EPS estimates but missed revenue expectations, while also declaring a $0.50 quarterly dividend yielding about 5.6%.

Swiss Life Asset Management Ltd grew its stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 66.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 90,206 shares of the Wireless communications provider's stock after purchasing an additional 36,114 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Rogers Communication were worth $3,406,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in RCI. Bank of America Corp DE lifted its stake in shares of Rogers Communication by 67.8% in the 3rd quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider's stock valued at $167,765,000 after purchasing an additional 1,966,476 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Rogers Communication by 261.2% in the 3rd quarter. CIBC Asset Management Inc now owns 2,102,076 shares of the Wireless communications provider's stock valued at $72,280,000 after purchasing an additional 1,520,062 shares during the period. Caisse de depot et placement du Quebec acquired a new position in shares of Rogers Communication in the 3rd quarter valued at $47,082,000. TD Asset Management Inc lifted its stake in shares of Rogers Communication by 18.0% in the 3rd quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider's stock valued at $287,340,000 after purchasing an additional 1,272,065 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Rogers Communication by 390.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,021,444 shares of the Wireless communications provider's stock valued at $35,156,000 after purchasing an additional 813,286 shares during the period. Institutional investors and hedge funds own 45.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RCI shares. Scotiabank raised Rogers Communication from a "hold" rating to an "outperform" rating in a research note on Thursday, April 23rd. TD Cowen reaffirmed a "buy" rating on shares of Rogers Communication in a research note on Friday, January 30th. Wall Street Zen downgraded Rogers Communication from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. TD Securities downgraded Rogers Communication from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Finally, Desjardins reaffirmed a "hold" rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $36.00.

Rogers Communication Stock Performance

Shares of Rogers Communication stock opened at $35.74 on Friday. The company has a market capitalization of $19.30 billion, a PE ratio of 3.77, a PEG ratio of 3.17 and a beta of 0.61. Rogers Communication, Inc. has a 12 month low of $25.05 and a 12 month high of $41.14. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The stock's fifty day simple moving average is $36.75 and its 200 day simple moving average is $37.37.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter last year, the business posted $0.99 EPS. The firm's revenue was up 10.2% compared to the same quarter last year. On average, research analysts predict that Rogers Communication, Inc. will post 3.55 EPS for the current year.

Rogers Communication Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 9th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.00 annualized dividend and a dividend yield of 5.6%. Rogers Communication's dividend payout ratio (DPR) is currently 15.51%.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.

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