Vest Financial LLC Raises Holdings in Rogers Communication, Inc. $RCI

Key Points

• Vest Financial LLC raised its stake in Rogers Communications by 38.5% in Q4, adding 31,368 shares to hold 112,803 shares valued at about $4.26 million.
• Wall Street sentiment is mixed with a consensus rating of Hold (4 Buy, 4 Hold, 1 Sell) and an average price target of $36.00.
• Rogers declared a quarterly dividend of $0.50 (annualized $2.00) for a 5.5% yield and recently reported Q1 EPS of $0.74 (beat by $0.01) while the stock trades around $36.28.

Vest Financial LLC grew its stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 38.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 112,803 shares of the Wireless communications provider's stock after buying an additional 31,368 shares during the quarter. Vest Financial LLC's holdings in Rogers Communication were worth $4,256,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Rogers Communication by 2.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 9,886,365 shares of the Wireless communications provider's stock worth $340,428,000 after purchasing an additional 282,609 shares during the last quarter. Bank of Nova Scotia lifted its holdings in shares of Rogers Communication by 2.3% during the third quarter. Bank of Nova Scotia now owns 8,465,953 shares of the Wireless communications provider's stock worth $291,526,000 after purchasing an additional 186,510 shares during the period. TD Asset Management Inc increased its stake in shares of Rogers Communication by 18.0% during the third quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider's stock worth $287,340,000 after acquiring an additional 1,272,065 shares during the period. Mackenzie Financial Corp boosted its holdings in Rogers Communication by 7.0% in the 3rd quarter. Mackenzie Financial Corp now owns 8,161,532 shares of the Wireless communications provider's stock valued at $280,904,000 after purchasing an additional 536,623 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Rogers Communication by 67.8% during the 3rd quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider's stock worth $167,765,000 after purchasing an additional 1,966,476 shares during the period. Institutional investors and hedge funds own 45.49% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Desjardins reaffirmed a "hold" rating on shares of Rogers Communication in a report 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 cut shares of Rogers Communication from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Rogers Communication in a research note on Tuesday, January 13th. Finally, Barclays reissued a "positive" rating and issued a $37.00 target price on shares of Rogers Communication in a research note on Tuesday, January 27th. Four investment 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $36.00.

Rogers Communication Stock Performance

NYSE:RCI opened at $36.28 on Thursday. Rogers Communication, Inc. has a twelve month low of $24.80 and a twelve month high of $41.14. The firm has a market capitalization of $19.60 billion, a price-to-earnings ratio of 3.83, a PEG ratio of 3.18 and a beta of 0.72. 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 firm's fifty day simple moving average is $37.28 and its 200 day simple moving average is $37.44.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The company 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. Rogers Communication's quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts expect that Rogers Communication, Inc. will post 3.59 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, June 9th. Rogers Communication's dividend payout ratio (DPR) is 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.

Want to see what other hedge funds are holding RCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.