Sentry Investments Corp. Buys 266,000 Shares of Rogers Communication, Inc. (RCI)
Sentry Investments Corp. increased its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 724.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302,700 shares of the Wireless communications provider’s stock after buying an additional 266,000 shares during the period. Sentry Investments Corp. owned approximately 0.08% of Rogers Communication worth $18,540,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in RCI. FMR LLC raised its stake in Rogers Communication by 10.2% in the first quarter. FMR LLC now owns 27,559,525 shares of the Wireless communications provider’s stock valued at $1,218,560,000 after buying an additional 2,546,782 shares during the last quarter. TD Asset Management Inc. raised its stake in Rogers Communication by 1.0% in the second quarter. TD Asset Management Inc. now owns 14,477,457 shares of the Wireless communications provider’s stock valued at $682,694,000 after buying an additional 142,103 shares during the last quarter. Vanguard Group Inc. raised its stake in Rogers Communication by 4.6% in the first quarter. Vanguard Group Inc. now owns 7,799,123 shares of the Wireless communications provider’s stock valued at $344,877,000 after buying an additional 343,169 shares during the last quarter. Mawer Investment Management Ltd. raised its stake in Rogers Communication by 1.9% in the first quarter. Mawer Investment Management Ltd. now owns 6,182,883 shares of the Wireless communications provider’s stock valued at $476,203,000 after buying an additional 112,870 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in Rogers Communication by 41.3% in the second quarter. CIBC Asset Management Inc now owns 4,493,734 shares of the Wireless communications provider’s stock valued at $212,001,000 after buying an additional 1,314,087 shares during the last quarter. Institutional investors own 47.55% of the company’s stock.
Shares of Rogers Communication, Inc. (NYSE:RCI) opened at 52.17 on Friday. The stock has a market cap of $26.86 billion, a price-to-earnings ratio of 32.91 and a beta of 0.86. Rogers Communication, Inc. has a 1-year low of $37.03 and a 1-year high of $53.07. The firm has a 50-day moving average price of $51.25 and a 200-day moving average price of $46.71.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, July 20th. The Wireless communications provider reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. The company had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.59 billion. Rogers Communication had a return on equity of 28.90% and a net margin of 7.42%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 earnings per share. Equities analysts forecast that Rogers Communication, Inc. will post $2.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Thursday, September 14th. Rogers Communication’s dividend payout ratio (DPR) is currently 95.95%.
TRADEMARK VIOLATION WARNING: This piece was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/09/01/sentry-investments-corp-buys-266000-shares-of-rogers-communication-inc-rci.html.
RCI has been the topic of several recent research reports. Zacks Investment Research upgraded Rogers Communication from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Wednesday, July 12th. BidaskClub upgraded Rogers Communication from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Finally, Morgan Stanley increased their price target on Rogers Communication from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, August 25th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.43.
About Rogers Communication
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and 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) (TSE:RCI.B).
Receive News & Stock Ratings for Rogers Communication Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Communication Inc. and related stocks with our FREE daily email newsletter.