Varma Mutual Pension Insurance Co Raises Position in Rogers Communication, Inc. $RCI

Varma Mutual Pension Insurance Co increased its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 8.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 442,200 shares of the Wireless communications provider’s stock after purchasing an additional 35,700 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Rogers Communication were worth $15,226,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC increased its stake in Rogers Communication by 19.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,661 shares of the Wireless communications provider’s stock valued at $613,000 after purchasing an additional 3,328 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Rogers Communication in the 2nd quarter worth $328,000. JTC Employer Solutions Trustee Ltd raised its stake in Rogers Communication by 1.4% in the 2nd quarter. JTC Employer Solutions Trustee Ltd now owns 103,931 shares of the Wireless communications provider’s stock worth $3,068,000 after acquiring an additional 1,386 shares during the last quarter. Lorne Steinberg Wealth Management Inc. lifted its position in Rogers Communication by 1.6% during the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 122,961 shares of the Wireless communications provider’s stock worth $3,650,000 after acquiring an additional 1,964 shares during the period. Finally, Cardinal Point Capital Management ULC increased its holdings in shares of Rogers Communication by 2.7% in the second quarter. Cardinal Point Capital Management ULC now owns 336,263 shares of the Wireless communications provider’s stock valued at $9,955,000 after purchasing an additional 8,711 shares during the period. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Trading Up 1.9%

Shares of RCI stock opened at $38.62 on Friday. Rogers Communication, Inc. has a 1-year low of $23.18 and a 1-year high of $40.26. The company has a market cap of $20.86 billion, a price-to-earnings ratio of 4.17, a PEG ratio of 5.09 and a beta of 0.74. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.61 and a quick ratio of 0.57. The stock has a 50 day simple moving average of $36.90 and a 200-day simple moving average of $36.56.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities research analysts expect that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.2%. Rogers Communication’s payout ratio is currently 15.46%.

Analyst Upgrades and Downgrades

RCI has been the subject of a number of research reports. Barclays reaffirmed a “positive” rating and set a $37.00 target price on shares of Rogers Communication in a report on Tuesday, January 27th. Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a research note on Monday, January 12th. Wall Street Zen lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley restated an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. Finally, TD Securities reiterated a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.