Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Rogers Communications Inc. (NYSE:RCI – Free Report) (TSE:RCI.B) by 0.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,127,180 shares of the Wireless communications provider’s stock after buying an additional 10,573 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.22% of Rogers Communications worth $52,212,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in RCI. Signaturefd LLC increased its stake in Rogers Communications by 24.8% during the fourth quarter. Signaturefd LLC now owns 6,553 shares of the Wireless communications provider’s stock worth $307,000 after acquiring an additional 1,304 shares during the last quarter. Metis Global Partners LLC increased its stake in Rogers Communications by 11.5% during the fourth quarter. Metis Global Partners LLC now owns 12,680 shares of the Wireless communications provider’s stock worth $593,000 after acquiring an additional 1,307 shares during the last quarter. Connectus Wealth LLC increased its stake in Rogers Communications by 8.0% during the fourth quarter. Connectus Wealth LLC now owns 32,922 shares of the Wireless communications provider’s stock worth $1,544,000 after acquiring an additional 2,427 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Rogers Communications by 3.2% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 174,560 shares of the Wireless communications provider’s stock worth $8,080,000 after acquiring an additional 5,400 shares during the last quarter. Finally, Scotia Capital Inc. increased its stake in Rogers Communications by 1.8% during the fourth quarter. Scotia Capital Inc. now owns 2,417,281 shares of the Wireless communications provider’s stock worth $112,903,000 after acquiring an additional 43,130 shares during the last quarter. Hedge funds and other institutional investors own 40.77% of the company’s stock.
Rogers Communications Trading Up 2.0 %
RCI opened at $44.83 on Wednesday. Rogers Communications Inc. has a 12 month low of $36.23 and a 12 month high of $50.16. The stock has a market capitalization of $22.64 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 1.21 and a beta of 0.52. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.91 and a quick ratio of 1.85. The business has a fifty day moving average price of $45.49 and a 200 day moving average price of $46.96.
Rogers Communications Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Friday, June 9th were issued a $0.37 dividend. This is an increase from Rogers Communications’s previous quarterly dividend of $0.37. This represents a $1.48 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Thursday, June 8th. Rogers Communications’s payout ratio is presently 56.11%.
Analysts Set New Price Targets
Several equities research analysts have issued reports on RCI shares. Desjardins cut Rogers Communications from a “buy” rating to a “hold” rating in a research note on Monday, April 3rd. StockNews.com raised Rogers Communications from a “hold” rating to a “buy” rating in a research note on Friday, July 14th. Finally, Barclays assumed coverage on Rogers Communications in a research note on Monday, May 8th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Rogers Communications currently has an average rating of “Moderate Buy” and an average price target of $74.31.
About Rogers Communications
Rogers Communications Inc operates as a communications and media company in North America. 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 services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.
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