Aigen Investment Management LP Takes Position in Rogers Communications Inc. (NYSE:RCI)

Aigen Investment Management LP purchased a new stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) in the first quarter, HoldingsChannel reports. The institutional investor purchased 10,834 shares of the Wireless communications provider’s stock, valued at approximately $499,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Mn Services Vermogensbeheer B.V. lifted its position in Rogers Communications by 2.8% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 310,460 shares of the Wireless communications provider’s stock worth $14,441,000 after buying an additional 8,500 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Rogers Communications by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 426,242 shares of the Wireless communications provider’s stock valued at $19,859,000 after purchasing an additional 27,234 shares during the last quarter. Intact Investment Management Inc. lifted its position in Rogers Communications by 744.8% in the fourth quarter. Intact Investment Management Inc. now owns 986,930 shares of the Wireless communications provider’s stock valued at $58,318,000 after purchasing an additional 870,100 shares during the last quarter. Bank of Nova Scotia Trust Co. lifted its position in Rogers Communications by 0.9% in the fourth quarter. Bank of Nova Scotia Trust Co. now owns 391,243 shares of the Wireless communications provider’s stock valued at $18,228,000 after purchasing an additional 3,677 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in Rogers Communications by 5.3% in the first quarter. Toronto Dominion Bank now owns 4,807,012 shares of the Wireless communications provider’s stock valued at $206,586,000 after purchasing an additional 241,415 shares during the last quarter. Hedge funds and other institutional investors own 47.87% of the company’s stock.

Shares of RCI opened at $51.63 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a 50-day moving average of $50.00. The stock has a market capitalization of $26.07 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 2.23 and a beta of 0.49. Rogers Communications Inc. has a 52 week low of $37.84 and a 52 week high of $52.93.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Tuesday, April 20th. The Wireless communications provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.25. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Rogers Communications had a return on equity of 17.83% and a net margin of 11.46%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 earnings per share. Equities research analysts forecast that Rogers Communications Inc. will post 3.05 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 2nd. Shareholders of record on Thursday, June 10th will be given a $0.3981 dividend. This is a boost from Rogers Communications’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, June 9th. This represents a $1.59 dividend on an annualized basis and a yield of 3.08%. Rogers Communications’s dividend payout ratio is presently 44.49%.

Several equities analysts have recently issued reports on RCI shares. Canaccord Genuity reduced their target price on Rogers Communications from $72.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, April 22nd. Royal Bank of Canada increased their target price on Rogers Communications from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, April 22nd. Desjardins increased their target price on Rogers Communications from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, April 23rd. Scotiabank increased their target price on Rogers Communications from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, April 19th. Finally, National Bank Financial reaffirmed an “outperform” rating on shares of Rogers Communications in a report on Thursday, April 22nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $71.50.

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 and accessory financing, wireless home phone, device protection, text messaging, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 10.9 million subscribers.

Further Reading: Depreciation

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

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