Intact Investment Management Inc. Acquires 261,220 Shares of Rogers Communications Inc. (NYSE:RCI)

Intact Investment Management Inc. boosted its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 13.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,255,441 shares of the Wireless communications provider’s stock after buying an additional 261,220 shares during the quarter. Rogers Communications comprises 3.0% of Intact Investment Management Inc.’s portfolio, making the stock its 4th biggest holding. Intact Investment Management Inc.’s holdings in Rogers Communications were worth $90,695,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Canoe Financial LP grew its position in shares of Rogers Communications by 14.4% in the third quarter. Canoe Financial LP now owns 1,133,087 shares of the Wireless communications provider’s stock valued at $45,624,000 after purchasing an additional 142,224 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Rogers Communications by 0.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 441,081 shares of the Wireless communications provider’s stock worth $17,719,000 after purchasing an additional 2,797 shares during the last quarter. Forsta AP Fonden lifted its position in shares of Rogers Communications by 45.8% during the 3rd quarter. Forsta AP Fonden now owns 81,800 shares of the Wireless communications provider’s stock worth $3,293,000 after purchasing an additional 25,700 shares during the last quarter. Cromwell Holdings LLC acquired a new position in shares of Rogers Communications during the 3rd quarter worth about $31,000. Finally, DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in shares of Rogers Communications by 1.7% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 244,353 shares of the Wireless communications provider’s stock worth $9,742,000 after buying an additional 3,971 shares during the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Canaccord Genuity Group downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. TD Securities raised their price objective on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. BMO Capital Markets raised their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $57.00 price objective (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and four have assigned 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 target price of $61.75.

Rogers Communications Stock Down 0.7 %

Shares of RCI stock opened at $36.08 on Monday. The stock has a market cap of $19.22 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.12 and a beta of 0.69. Rogers Communications Inc. has a one year low of $35.55 and a one year high of $48.19. The stock has a fifty day moving average price of $39.37 and a 200 day moving average price of $38.80. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.07 by $0.35. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. Rogers Communications’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the business earned $0.95 earnings per share. Analysts predict that Rogers Communications Inc. will post 3.55 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a dividend of $0.3611 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.00%. Rogers Communications’s payout ratio is presently 72.20%.

Rogers Communications 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.