Legal & General Group Plc Buys 143,684 Shares of Rogers Communication, Inc. $RCI

Legal & General Group Plc lifted its stake in Rogers Communication, Inc. (NYSE:RCIFree Report) (TSE:RCI.B) by 8.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,758,829 shares of the Wireless communications provider’s stock after purchasing an additional 143,684 shares during the period. Legal & General Group Plc owned 0.33% of Rogers Communication worth $66,478,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RCI. Farther Finance Advisors LLC boosted its position in shares of Rogers Communication by 107.4% in the 4th quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock worth $30,000 after purchasing an additional 407 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of Rogers Communication by 143.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after purchasing an additional 978 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Rogers Communication in the 3rd quarter worth $58,000. EverSource Wealth Advisors LLC boosted its position in shares of Rogers Communication by 52.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after purchasing an additional 683 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Rogers Communication in the 3rd quarter worth $63,000. 45.49% of the stock is currently owned by institutional investors.

Rogers Communication Price Performance

NYSE:RCI opened at $38.57 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55. The stock’s 50-day simple moving average is $36.10 and its 200 day simple moving average is $37.23. The company has a market cap of $20.84 billion, a P/E ratio of 4.07, a P/E/G ratio of 3.36 and a beta of 0.61. Rogers Communication, Inc. has a 52-week low of $26.30 and a 52-week high of $41.14.

Rogers Communication (NYSE:RCIGet Free Report) (TSE:RCI.B) last released its earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $5.44 billion. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.Rogers Communication’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 earnings per share. As a group, sell-side analysts forecast that Rogers Communication, Inc. will post 3.55 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 9th. Rogers Communication’s dividend payout ratio is presently 15.51%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RCI. Desjardins reiterated a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. TD Securities lowered Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Scotiabank upgraded Rogers Communication from a “hold” rating to an “outperform” rating in a report on Thursday, April 23rd. Wall Street Zen lowered Rogers Communication from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, TD Cowen reiterated a “buy” rating on shares of Rogers Communication in a report on Friday, January 30th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $36.00.

Read Our Latest Research Report on RCI

Rogers Communication Profile

(Free Report)

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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Institutional Ownership by Quarter for Rogers Communication (NYSE:RCI)

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