Institute for Wealth Management LLC. Acquires 380 Shares of Rogers Communications Inc. (NYSE:RCI)

Institute for Wealth Management LLC. increased its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 5.6% during the second quarter, HoldingsChannel reports. The firm owned 7,207 shares of the Wireless communications provider’s stock after buying an additional 380 shares during the period. Institute for Wealth Management LLC.’s holdings in Rogers Communications were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in RCI. Swiss National Bank grew its holdings in Rogers Communications by 5.2% during the 2nd quarter. Swiss National Bank now owns 1,338,900 shares of the Wireless communications provider’s stock valued at $71,666,000 after buying an additional 66,400 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Rogers Communications by 4.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 48,589 shares of the Wireless communications provider’s stock valued at $2,600,000 after buying an additional 1,942 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Rogers Communications by 402.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,202,595 shares of the Wireless communications provider’s stock valued at $63,835,000 after buying an additional 963,247 shares in the last quarter. TD Asset Management Inc. grew its holdings in Rogers Communications by 2.7% during the 2nd quarter. TD Asset Management Inc. now owns 12,979,607 shares of the Wireless communications provider’s stock valued at $696,285,000 after buying an additional 339,640 shares in the last quarter. Finally, Highstreet Asset Management Inc. grew its holdings in Rogers Communications by 140.4% during the 2nd quarter. Highstreet Asset Management Inc. now owns 548,207 shares of the Wireless communications provider’s stock valued at $29,345,000 after buying an additional 320,197 shares in the last quarter. 43.84% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on the company. Scotia Howard Weill restated a “sector perform” rating on shares of Rogers Communications in a report on Monday, April 22nd. Howard Weil cut Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Monday, April 22nd. Royal Bank of Canada restated a “hold” rating on shares of Rogers Communications in a report on Monday, April 22nd. Echelon Wealth Partners upgraded Rogers Communications from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Zacks Investment Research cut Rogers Communications from a “buy” rating to a “hold” rating and set a $56.00 price target for the company. in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Rogers Communications presently has a consensus rating of “Hold” and an average target price of $60.18.

Shares of NYSE:RCI traded down $0.59 during trading on Tuesday, hitting $50.68. The company had a trading volume of 36,808 shares, compared to its average volume of 359,162. The stock has a market cap of $26.15 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 3.01 and a beta of 0.54. Rogers Communications Inc. has a one year low of $48.67 and a one year high of $55.93. The company has a fifty day simple moving average of $52.85 and a two-hundred day simple moving average of $52.96. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.79 and a quick ratio of 0.71.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Tuesday, July 23rd. The Wireless communications provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.02). The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.87 billion. Rogers Communications had a net margin of 13.79% and a return on equity of 26.66%. Rogers Communications’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.07 earnings per share. On average, equities research analysts anticipate that Rogers Communications Inc. will post 3.4 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a $0.3732 dividend. This represents a $1.49 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Friday, September 6th. Rogers Communications’s payout ratio is 44.18%.

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 Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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

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