Intact Investment Management Inc. Has $69.37 Million Position in Rogers Communications Inc. (NYSE:RCI)

Intact Investment Management Inc. raised its holdings in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,481,691 shares of the Wireless communications provider's stock after purchasing an additional 23,390 shares during the period. Rogers Communications accounts for about 2.8% of Intact Investment Management Inc.'s holdings, making the stock its 6th largest holding. Intact Investment Management Inc. owned about 0.28% of Rogers Communications worth $69,366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC raised its position in Rogers Communications by 62.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 700 shares of the Wireless communications provider's stock valued at $27,000 after purchasing an additional 270 shares during the last quarter. Cigna Investments Inc. New raised its position in shares of Rogers Communications by 4.9% in the 3rd quarter. Cigna Investments Inc. New now owns 6,851 shares of the Wireless communications provider's stock worth $265,000 after acquiring an additional 317 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Rogers Communications by 120.1% in the 4th quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider's stock worth $31,000 after acquiring an additional 359 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Rogers Communications by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 13,865 shares of the Wireless communications provider's stock worth $535,000 after acquiring an additional 400 shares in the last quarter. Finally, Lindbrook Capital LLC raised its position in shares of Rogers Communications by 120.8% in the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider's stock worth $43,000 after acquiring an additional 499 shares in the last quarter. Institutional investors own 45.49% of the company's stock.

Rogers Communications Stock Down 0.2 %

RCI stock traded down $0.08 on Friday, reaching $37.96. 1,265,055 shares of the company traded hands, compared to its average volume of 925,322. Rogers Communications Inc. has a one year low of $36.55 and a one year high of $50.00. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.84. The company has a market cap of $20.06 billion, a P/E ratio of 47.45, a price-to-earnings-growth ratio of 1.64 and a beta of 0.59. The firm has a fifty day simple moving average of $41.67 and a 200-day simple moving average of $43.14.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings data on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.01. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.64 billion. Research analysts anticipate that Rogers Communications Inc. will post 3.56 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.3658 per share. The ex-dividend date is Monday, June 10th. This represents a $1.46 annualized dividend and a yield of 3.85%. Rogers Communications's dividend payout ratio is 183.75%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays decreased their target price on Rogers Communications from $52.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, April 10th. StockNews.com lowered Rogers Communications from a "hold" rating to a "sell" rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $46.00.

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.