Intact Investment Management Inc. Has $69.37 Million Stake in Rogers Communications Inc. (NYSE:RCI)

Intact Investment Management Inc. grew its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,481,691 shares of the Wireless communications provider’s stock after acquiring an additional 23,390 shares during the period. Rogers Communications comprises approximately 2.8% of Intact Investment Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Intact Investment Management Inc.’s holdings in Rogers Communications were worth $69,366,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RCI. EverSource Wealth Advisors LLC increased its holdings in Rogers Communications by 62.8% during the third quarter. EverSource Wealth Advisors LLC now owns 700 shares of the Wireless communications provider’s stock valued at $27,000 after buying an additional 270 shares during the period. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Rogers Communications during the third quarter valued at approximately $29,000. Fifth Third Bancorp increased its holdings in Rogers Communications by 120.1% during the fourth quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock valued at $31,000 after buying an additional 359 shares during the period. Lindbrook Capital LLC increased its holdings in Rogers Communications by 120.8% during the fourth quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 499 shares during the period. Finally, CVA Family Office LLC purchased a new position in Rogers Communications during the fourth quarter valued at approximately $51,000. Institutional investors own 45.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RCI. StockNews.com lowered shares of Rogers Communications from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Barclays cut their price objective on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to data from MarketBeat, Rogers Communications has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Rogers Communications Stock Down 0.2 %

NYSE RCI traded down $0.08 on Friday, hitting $37.96. The stock had a trading volume of 1,265,055 shares, compared to its average volume of 925,322. The business’s fifty day moving average price is $41.67 and its 200 day moving average price is $43.12. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.84. Rogers Communications Inc. has a 52-week low of $36.55 and a 52-week high of $50.00. The stock has a market cap of $20.06 billion, a price-to-earnings ratio of 47.44, a price-to-earnings-growth ratio of 1.64 and a beta of 0.59.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. Equities research analysts anticipate that Rogers Communications Inc. will post 3.56 earnings per share for the current year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be issued a $0.3658 dividend. This represents a $1.46 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Monday, June 10th. Rogers Communications’s dividend payout ratio is currently 183.75%.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.