Vest Financial LLC Boosts Stock Position in Rogers Communications Inc. (NYSE:RCI)

Vest Financial LLC raised its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 59.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,623 shares of the Wireless communications provider’s stock after purchasing an additional 9,160 shares during the quarter. Vest Financial LLC’s holdings in Rogers Communications were worth $757,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Cromwell Holdings LLC acquired a new position in Rogers Communications in the 3rd quarter valued at $31,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Rogers Communications by 110.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after acquiring an additional 522 shares in the last quarter. Grove Bank & Trust increased its stake in shares of Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after acquiring an additional 302 shares during the period. Nexus Investment Management ULC purchased a new position in Rogers Communications during the third quarter worth about $203,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Rogers Communications during the third quarter worth about $206,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Price Performance

Rogers Communications stock opened at $26.95 on Monday. The firm has a market capitalization of $14.40 billion, a PE ratio of 11.61, a P/E/G ratio of 1.37 and a beta of 0.68. Rogers Communications Inc. has a 52 week low of $26.57 and a 52 week high of $46.39. The firm’s 50-day simple moving average is $30.54 and its 200 day simple moving average is $35.75. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. On average, equities research analysts predict that Rogers Communications Inc. will post 3.58 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be paid a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend is Monday, March 10th. Rogers Communications’s payout ratio is 59.05%.

Analyst Ratings Changes

RCI has been the topic of several recent analyst reports. Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Morgan Stanley began coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating for the company. Finally, Barclays restated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.75.

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.