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

Varma Mutual Pension Insurance Co lifted its stake in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 442,200 shares of the Wireless communications provider’s stock after purchasing an additional 35,700 shares during the quarter. Varma Mutual Pension Insurance Co owned about 0.08% of Rogers Communication worth $15,226,000 at the end of the most recent reporting period.

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

Rogers Communication Trading Up 1.9%

NYSE:RCI opened at $38.62 on Friday. The firm has a 50-day simple moving average of $36.90 and a 200-day simple moving average of $36.56. Rogers Communication, Inc. has a one year low of $23.18 and a one year high of $40.26. The firm has a market cap of $20.86 billion, a P/E ratio of 4.17, a P/E/G ratio of 5.09 and a beta of 0.74. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.57 and a current ratio of 0.61.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, January 29th. The Wireless communications provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. Rogers Communication’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 earnings per share. Equities analysts anticipate 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. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, March 10th. Rogers Communication’s dividend payout ratio is presently 15.46%.

Analysts Set New Price Targets

Several equities analysts have commented on RCI shares. Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a research report on Monday, January 12th. Desjardins cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. TD Cowen restated a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Finally, Barclays reiterated a “positive” rating and issued a $37.00 price target on shares of Rogers Communication in a report on Tuesday, January 27th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $36.00.

About Rogers Communication

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.