TD Asset Management Inc Purchases 1,272,065 Shares of Rogers Communication, Inc. $RCI

TD Asset Management Inc increased its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 18.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,344,925 shares of the Wireless communications provider’s stock after buying an additional 1,272,065 shares during the period. TD Asset Management Inc owned 1.54% of Rogers Communication worth $287,340,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. K.J. Harrison & Partners Inc bought a new position in Rogers Communication in the 2nd quarter valued at approximately $208,000. Timelo Investment Management Inc. bought a new stake in Rogers Communication in the second quarter valued at $1,097,000. Metis Global Partners LLC raised its stake in Rogers Communication by 12.6% during the 2nd quarter. Metis Global Partners LLC now owns 15,984 shares of the Wireless communications provider’s stock worth $474,000 after buying an additional 1,791 shares during the period. Fox Run Management L.L.C. acquired a new stake in Rogers Communication in the 2nd quarter valued at $443,000. Finally, AGF Management Ltd. raised its holdings in shares of Rogers Communication by 28.1% in the 2nd quarter. AGF Management Ltd. now owns 1,800,421 shares of the Wireless communications provider’s stock worth $53,400,000 after acquiring an additional 394,848 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Price Performance

Shares of Rogers Communication stock opened at $38.97 on Wednesday. The company has a market capitalization of $21.05 billion, a price-to-earnings ratio of 4.21, a PEG ratio of 5.11 and a beta of 0.74. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.48. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $40.26. The stock’s 50-day simple moving average is $37.22 and its 200-day simple moving average is $36.88.

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

Rogers Communication Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on RCI shares. Wall Street Zen lowered Rogers Communication from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. TD Cowen restated a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Barclays reissued a “positive” rating and set a $37.00 price objective on shares of Rogers Communication in a report on Tuesday, January 27th. Royal Bank Of Canada restated an “outperform” rating on shares of Rogers Communication in a report on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rogers Communication in a research report on Friday, December 26th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Rogers Communication currently has an average rating of “Hold” and a consensus target price of $36.00.

Rogers Communication Company 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.