Vest Financial LLC Has $1.61 Million Stake in Rogers Communication, Inc. $RCI

Key Points

• Vest Financial LLC increased its holdings in Rogers Communication, Inc. by 20.3% in the second quarter, bringing its stake to $1.61 million.
• Rogers Communication recently announced a quarterly dividend increase to $0.3672, reflecting an annualized yield of 4.0%.
• Analysts have set a consensus price target of $33.00 for Rogers Communication, which includes two Buy ratings, four Hold ratings, and one Sell rating.

Vest Financial LLC grew its holdings in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 20.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,251 shares of the Wireless communications provider's stock after purchasing an additional 9,154 shares during the period. Vest Financial LLC's holdings in Rogers Communication were worth $1,609,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. SBI Securities Co. Ltd. increased its holdings in Rogers Communication by 885.4% in the first quarter. SBI Securities Co. Ltd. now owns 946 shares of the Wireless communications provider's stock worth $25,000 after buying an additional 850 shares during the last quarter. Parallel Advisors LLC increased its holdings in Rogers Communication by 176.9% in the second quarter. Parallel Advisors LLC now owns 2,891 shares of the Wireless communications provider's stock worth $86,000 after buying an additional 1,847 shares during the last quarter. CWM LLC increased its holdings in Rogers Communication by 57.4% in the first quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider's stock worth $100,000 after buying an additional 1,363 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Rogers Communication by 48.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,231 shares of the Wireless communications provider's stock worth $113,000 after buying an additional 1,389 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in Rogers Communication by 263.1% in the first quarter. TD Private Client Wealth LLC now owns 5,131 shares of the Wireless communications provider's stock worth $137,000 after buying an additional 3,718 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on RCI shares. Scotiabank restated a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. Barclays upped their target price on Rogers Communication from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Rogers Communication in a research report on Wednesday, July 2nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Rogers Communication in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Rogers Communication currently has a consensus rating of "Hold" and a consensus price target of $33.00.

Rogers Communication Stock Up 0.0%

RCI opened at $36.77 on Wednesday. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $39.33. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 2.23. The stock has a market capitalization of $19.78 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 2.95 and a beta of 0.78. The business has a 50 day moving average of $35.35 and a 200-day moving average of $30.62.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share for the quarter, beating 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 company 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 business earned $1.16 earnings per share. Rogers Communication's revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 8th were given a $0.3672 dividend. This represents a $1.47 annualized dividend and a yield of 4.0%. This is an increase from Rogers Communication's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Monday, September 8th. Rogers Communication's dividend payout ratio (DPR) is 72.64%.

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.

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