Morningstar Investment Management LLC bought a new position in shares of Rogers Communication, Inc. (NYSE:RCI – Free Report) (TSE:RCI.B) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 67,489 shares of the Wireless communications provider’s stock, valued at approximately $2,548,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Citigroup Inc. boosted its stake in Rogers Communication by 16.9% during the 3rd quarter. Citigroup Inc. now owns 395,919 shares of the Wireless communications provider’s stock worth $13,633,000 after purchasing an additional 57,159 shares during the last quarter. TD Asset Management Inc boosted its stake in Rogers Communication by 18.0% during the 3rd quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock worth $287,340,000 after purchasing an additional 1,272,065 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in Rogers Communication by 1.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,446,406 shares of the Wireless communications provider’s stock worth $92,242,000 after purchasing an additional 32,872 shares during the last quarter. J. Safra Sarasin Holding AG boosted its stake in Rogers Communication by 361.8% during the 3rd quarter. J. Safra Sarasin Holding AG now owns 53,567 shares of the Wireless communications provider’s stock worth $1,844,000 after purchasing an additional 41,967 shares during the last quarter. Finally, DigitalBridge Group Inc. boosted its stake in Rogers Communication by 33.5% during the 3rd quarter. DigitalBridge Group Inc. now owns 1,159,502 shares of the Wireless communications provider’s stock worth $39,968,000 after purchasing an additional 290,871 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.
Rogers Communication Trading Down 0.0%
Shares of RCI stock opened at $36.59 on Tuesday. The company’s 50-day moving average price is $36.20 and its 200-day moving average price is $37.22. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The stock has a market cap of $19.77 billion, a price-to-earnings ratio of 3.86, a PEG ratio of 3.22 and a beta of 0.61. Rogers Communication, Inc. has a twelve month low of $25.80 and a twelve month high of $41.14.
Rogers Communication Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.00 annualized dividend and a dividend yield of 5.5%. Rogers Communication’s payout ratio is presently 15.51%.
Analyst Ratings Changes
Several equities research analysts have issued reports on RCI shares. TD Cowen reaffirmed a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Scotiabank raised shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research note on Thursday, April 23rd. TD Securities cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Desjardins reaffirmed a “hold” rating on shares of Rogers Communication in a research note on Thursday, April 23rd. Finally, Barclays reaffirmed a “positive” rating and set a $37.00 target price on shares of Rogers Communication in a research note on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Rogers Communication presently has an average rating of “Hold” and a consensus target price of $36.00.
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.
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