Sumitomo Mitsui Trust Holdings Inc. Has $46,168,000 Stake in Rogers Communication Inc. (RCI)
Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Rogers Communication Inc. (NYSE:RCI) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,145,722 shares of the company’s stock after buying an additional 8,559 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.22% of Rogers Communication worth $46,168,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of RCI. Bollard Group LLC increased its position in shares of Rogers Communication by 0.6% in the second quarter. Bollard Group LLC now owns 32,199 shares of the company’s stock valued at $1,301,000 after buying an additional 196 shares in the last quarter. Lombard Odier & Cie Canada Limited Partnership increased its position in shares of Rogers Communication by 1.9% in the first quarter. Lombard Odier & Cie Canada Limited Partnership now owns 21,200 shares of the company’s stock worth $851,000 after buying an additional 400 shares during the period. Highstreet Asset Management Inc. increased its position in shares of Rogers Communication by 1.9% in the second quarter. Highstreet Asset Management Inc. now owns 41,679 shares of the company’s stock worth $1,687,000 after buying an additional 795 shares during the period. Commonwealth Equity Services Inc increased its position in shares of Rogers Communication by 17.1% in the first quarter. Commonwealth Equity Services Inc now owns 7,720 shares of the company’s stock worth $309,000 after buying an additional 1,128 shares during the period. Finally, Willis Investment Counsel increased its position in shares of Rogers Communication by 0.9% in the first quarter. Willis Investment Counsel now owns 162,535 shares of the company’s stock worth $6,505,000 after buying an additional 1,470 shares during the period. Hedge funds and other institutional investors own 49.28% of the company’s stock.
Shares of Rogers Communication Inc. (NYSE:RCI) traded down 0.10% during mid-day trading on Monday, hitting $41.29. 495,617 shares of the stock were exchanged. The stock’s 50-day moving average price is $42.29 and its 200-day moving average price is $40.89. Rogers Communication Inc. has a 52-week low of $32.50 and a 52-week high of $45.50. The company has a market cap of $21.25 billion, a P/E ratio of 20.06 and a beta of 0.87.
Rogers Communication (NYSE:RCI) last released its earnings results on Monday, October 17th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by $0.03. The company earned $3.49 billion during the quarter, compared to analyst estimates of $3.45 billion. Rogers Communication had a return on equity of 24.94% and a net margin of 10.42%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business earned $0.92 earnings per share. Equities research analysts anticipate that Rogers Communication Inc. will post $2.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Sunday, September 11th were paid a $0.48 dividend. The ex-dividend date was Wednesday, September 7th. This is a boost from Rogers Communication’s previous quarterly dividend of $0.37. This represents a $1.92 dividend on an annualized basis and a yield of 4.65%. Rogers Communication’s dividend payout ratio (DPR) is 71.36%.
A number of research analysts recently weighed in on RCI shares. Zacks Investment Research downgraded shares of Rogers Communication from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Bank of America Corp. started coverage on shares of Rogers Communication in a research report on Tuesday, July 5th. They set a “neutral” rating on the stock. TD Securities restated a “buy” rating and set a $58.00 price objective on shares of Rogers Communication in a research report on Wednesday, July 6th. Canaccord Genuity restated a “hold” rating on shares of Rogers Communication in a research report on Tuesday, July 19th. Finally, TheStreet upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of C$50.00.
About Rogers Communication
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet and telephony services to consumers and businesses. The Company operates through four segments: Wireless, Cable, Business Solutions and Media. Its Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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