Legal & General Group Plc Purchases 143,684 Shares of Rogers Communication, Inc. $RCI

Legal & General Group Plc lifted its position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,758,829 shares of the Wireless communications provider’s stock after buying an additional 143,684 shares during the quarter. Legal & General Group Plc’s holdings in Rogers Communication were worth $66,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in shares of Rogers Communication by 107.4% in the fourth quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock valued at $30,000 after buying an additional 407 shares in the last quarter. Headlands Technologies LLC increased its position in Rogers Communication by 143.2% during the second quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after buying an additional 978 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Rogers Communication during the third quarter worth approximately $58,000. Advisory Services Network LLC acquired a new position in Rogers Communication during the third quarter worth approximately $63,000. Finally, Danske Bank A S acquired a new position in Rogers Communication during the third quarter worth approximately $64,000. 45.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on RCI shares. Wall Street Zen downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Desjardins reissued a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. TD Cowen reissued a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. TD Securities downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Scotiabank raised Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.00.

Rogers Communication Trading Up 0.8%

Shares of NYSE:RCI opened at $38.57 on Friday. Rogers Communication, Inc. has a 12-month low of $26.30 and a 12-month high of $41.14. The stock has a market cap of $20.84 billion, a PE ratio of 4.07, a P/E/G ratio of 3.36 and a beta of 0.61. The business has a 50 day moving average of $36.10 and a 200-day moving average of $37.23. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.43.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts forecast that Rogers Communication, Inc. will post 3.55 earnings per share for the current year.

Rogers Communication Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Tuesday, June 9th. Rogers Communication’s payout ratio is currently 15.51%.

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.