Beverly Hills Private Wealth LLC Invests $255,000 in Rogers Communications Inc. (NYSE:RCI)

Beverly Hills Private Wealth LLC bought a new position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,447 shares of the Wireless communications provider’s stock, valued at approximately $255,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its holdings in Rogers Communications by 317.7% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 33,877 shares of the Wireless communications provider’s stock valued at $1,301,000 after buying an additional 25,766 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Rogers Communications by 101.8% during the third quarter. Qube Research & Technologies Ltd now owns 131,276 shares of the Wireless communications provider’s stock worth $5,040,000 after acquiring an additional 66,231 shares during the last quarter. Invesco Ltd. grew its stake in Rogers Communications by 13.7% during the third quarter. Invesco Ltd. now owns 200,294 shares of the Wireless communications provider’s stock valued at $7,689,000 after acquiring an additional 24,178 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Rogers Communications by 32.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,101,225 shares of the Wireless communications provider’s stock valued at $81,049,000 after acquiring an additional 508,900 shares during the last quarter. Finally, Scotia Capital Inc. lifted its stake in Rogers Communications by 9.3% in the 3rd quarter. Scotia Capital Inc. now owns 2,625,594 shares of the Wireless communications provider’s stock worth $100,617,000 after purchasing an additional 224,293 shares in the last quarter. Institutional investors own 45.49% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com lowered Rogers Communications from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Barclays cut their price target on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.00.

Rogers Communications Price Performance

Rogers Communications stock opened at $37.91 on Tuesday. Rogers Communications Inc. has a 52-week low of $36.55 and a 52-week high of $50.00. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 3.81. The firm’s fifty day moving average is $42.98 and its 200 day moving average is $43.15. The company has a market cap of $20.04 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.63 and a beta of 0.59.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, February 1st. The Wireless communications provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Rogers Communications had a net margin of 4.38% and a return on equity of 22.17%. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.99 billion. Sell-side analysts forecast that Rogers Communications Inc. will post 3.6 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Monday, March 11th were given a dividend of $0.3742 per share. The ex-dividend date was Friday, March 8th. This is an increase from Rogers Communications’s previous quarterly dividend of $0.36. This represents a $1.50 dividend on an annualized basis and a yield of 3.95%. Rogers Communications’s dividend payout ratio is 122.50%.

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.