Schroder Investment Management Group Buys Shares of 61,778 Rogers Communication Inc. (RCI)
Schroder Investment Management Group bought a new stake in shares of Rogers Communication Inc. (NYSE:RCI) during the second quarter, Holdings Channel reports. The firm bought 61,778 shares of the company’s stock, valued at approximately $3,231,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Princeton Alpha Management LP raised its position in shares of Rogers Communication by 33.4% in the second quarter. Princeton Alpha Management LP now owns 6,908 shares of the company’s stock valued at $279,000 after buying an additional 1,731 shares during the period. Commonwealth Equity Services Inc raised 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 last quarter. Mn Services Vermogensbeheer B.V. bought a new position in shares of Rogers Communication during the first quarter worth $317,000. AGF Investments Inc. raised its position in shares of Rogers Communication by 43.2% in the second quarter. AGF Investments Inc. now owns 17,817 shares of the company’s stock worth $721,000 after buying an additional 5,378 shares during the last quarter. Finally, Aston Asset Management LLC raised its position in shares of Rogers Communication by 1.3% in the first quarter. Aston Asset Management LLC now owns 20,747 shares of the company’s stock worth $830,000 after buying an additional 257 shares during the last quarter. 49.28% of the stock is currently owned by institutional investors.
Rogers Communication Inc. (NYSE:RCI) traded up 0.19% during trading on Wednesday, hitting $42.26. 102,325 shares of the company’s stock traded hands. The company has a market cap of $21.75 billion, a PE ratio of 20.45 and a beta of 0.93. Rogers Communication Inc. has a 52-week low of $32.50 and a 52-week high of $45.50. The company’s 50 day moving average price is $43.51 and its 200 day moving average price is $40.50.
Rogers Communication (NYSE:RCI) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Rogers Communication had a return on equity of 24.94% and a net margin of 10.42%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 EPS. Analysts expect that Rogers Communication Inc. will post $2.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Sunday, September 11th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.55%. This is a boost from Rogers Communication’s previous quarterly dividend of $0.37. The ex-dividend date is Wednesday, September 7th. Rogers Communication’s dividend payout ratio is presently 71.36%.
RCI has been the topic of a number of research reports. TD Securities reaffirmed a “buy” rating and issued a $58.00 price target on shares of Rogers Communication in a research note on Wednesday, July 6th. TheStreet raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Zacks Investment Research raised shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Wednesday. Canaccord Genuity reiterated a “hold” rating on shares of Rogers Communication in a report on Tuesday, July 19th. Finally, Bank of America Corp. began coverage on shares of Rogers Communication in a report on Tuesday, July 5th. They issued a “neutral” rating on the stock. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Rogers Communication currently has a consensus rating of “Buy” and an average target price of C$49.56.
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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