Rogers Communication, Inc. $RCI Shares Acquired by TD Asset Management Inc

TD Asset Management Inc increased its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 18.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,344,925 shares of the Wireless communications provider’s stock after purchasing an additional 1,272,065 shares during the quarter. TD Asset Management Inc’s holdings in Rogers Communication were worth $287,340,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of RCI. Picton Mahoney Asset Management acquired a new stake in Rogers Communication in the 2nd quarter valued at about $78,714,000. CIBC Asset Management Inc increased its holdings in shares of Rogers Communication by 261.2% in the third quarter. CIBC Asset Management Inc now owns 2,102,076 shares of the Wireless communications provider’s stock valued at $72,280,000 after purchasing an additional 1,520,062 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Rogers Communication by 15.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 9,603,756 shares of the Wireless communications provider’s stock worth $284,981,000 after buying an additional 1,255,794 shares in the last quarter. Letko Brosseau & Associates Inc. boosted its stake in Rogers Communication by 14.8% during the second quarter. Letko Brosseau & Associates Inc. now owns 6,753,987 shares of the Wireless communications provider’s stock worth $199,922,000 after buying an additional 868,800 shares during the last quarter. Finally, Burgundy Asset Management Ltd. increased its stake in shares of Rogers Communication by 18.9% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,172,546 shares of the Wireless communications provider’s stock worth $123,528,000 after acquiring an additional 662,594 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on RCI. Weiss Ratings restated a “hold (c+)” rating on shares of Rogers Communication in a research report on Friday, December 26th. Barclays reaffirmed a “positive” rating and issued a $37.00 target price on shares of Rogers Communication in a research report on Tuesday, January 27th. Desjardins cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Wednesday, December 10th. TD Cowen reaffirmed a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Rogers Communication in a research note on Tuesday, January 13th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.00.

Rogers Communication Stock Up 1.0%

Shares of NYSE RCI opened at $38.97 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.48. The stock has a market cap of $21.05 billion, a PE ratio of 4.21, a price-to-earnings-growth ratio of 5.11 and a beta of 0.74. The business has a 50-day moving average price of $37.22 and a 200 day moving average price of $36.88. Rogers Communication, Inc. has a 52-week low of $23.18 and a 52-week high of $40.26.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.10. Rogers Communication had a return on equity of 14.22% and a net margin of 32.29%.The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same period last year, the business posted $1.46 EPS. The company’s revenue was up 12.6% on a year-over-year basis. Equities research analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Rogers Communication Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.00 dividend on an annualized basis and a yield of 5.1%. Rogers Communication’s payout ratio is currently 15.46%.

Rogers Communication 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.