Cidel Asset Management Inc. Has $71.98 Million Position in Rogers Communications Inc. (NYSE:RCI)

Cidel Asset Management Inc. grew its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,352,542 shares of the Wireless communications provider’s stock after purchasing an additional 96,282 shares during the period. Rogers Communications comprises about 2.9% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Cidel Asset Management Inc.’s holdings in Rogers Communications were worth $71,980,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Toronto Dominion Bank grew its holdings in shares of Rogers Communications by 5.0% in the second quarter. Toronto Dominion Bank now owns 5,047,630 shares of the Wireless communications provider’s stock worth $280,407,000 after acquiring an additional 240,618 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Rogers Communications by 16.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 170,951 shares of the Wireless communications provider’s stock worth $9,104,000 after buying an additional 23,907 shares in the last quarter. Ethic Inc. increased its stake in Rogers Communications by 150.5% during the second quarter. Ethic Inc. now owns 12,249 shares of the Wireless communications provider’s stock worth $651,000 after acquiring an additional 7,360 shares during the last quarter. Van ECK Associates Corp increased its stake in Rogers Communications by 26.8% during the second quarter. Van ECK Associates Corp now owns 5,798 shares of the Wireless communications provider’s stock worth $308,000 after acquiring an additional 1,227 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in Rogers Communications by 7,159.6% during the second quarter. Rockefeller Capital Management L.P. now owns 17,786 shares of the Wireless communications provider’s stock worth $944,000 after acquiring an additional 17,541 shares during the last quarter. 43.27% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:RCI traded down $0.11 during trading on Wednesday, hitting $47.11. The company’s stock had a trading volume of 9,038 shares, compared to its average volume of 410,438. The business has a 50 day moving average price of $50.98 and a two-hundred day moving average price of $50.23. The company has a market capitalization of $23.79 billion, a PE ratio of 19.04, a P/E/G ratio of 2.12 and a beta of 0.47. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.72 and a current ratio of 0.78. Rogers Communications Inc. has a fifty-two week low of $37.84 and a fifty-two week high of $53.90.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Tuesday, July 20th. The Wireless communications provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.13. Rogers Communications had a net margin of 11.20% and a return on equity of 18.42%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the company earned $0.60 earnings per share. Rogers Communications’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, equities analysts expect that Rogers Communications Inc. will post 2.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Thursday, September 9th will be paid a dividend of $0.3974 per share. The ex-dividend date is Wednesday, September 8th. This represents a $1.59 dividend on an annualized basis and a dividend yield of 3.37%. Rogers Communications’s dividend payout ratio (DPR) is 14.96%.

A number of research analysts have recently commented on RCI shares. Royal Bank of Canada cut their target price on Rogers Communications from C$77.00 to C$76.00 and set an “outperform” rating on the stock in a research note on Thursday, July 22nd. TD Securities assumed coverage on Rogers Communications in a report on Thursday, September 9th. They set a “buy” rating for the company. Finally, Zacks Investment Research lowered Rogers Communications from a “buy” rating to a “hold” rating and set a $55.00 price objective for the company. in a report on Monday, June 28th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Rogers Communications presently has an average rating of “Buy” and an average target price of $69.78.

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.

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

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