Cumberland Partners Ltd raised its position in shares of Rogers Communications Inc. (NYSE:RCI – Get Rating) (TSE:RCI.B) by 89.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 659,482 shares of the Wireless communications provider’s stock after purchasing an additional 311,586 shares during the period. Rogers Communications accounts for approximately 2.8% of Cumberland Partners Ltd’s portfolio, making the stock its 8th largest holding. Cumberland Partners Ltd owned 0.13% of Rogers Communications worth $37,369,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of RCI. EverSource Wealth Advisors LLC purchased a new stake in shares of Rogers Communications during the fourth quarter worth $49,000. Advisor Group Holdings Inc. raised its position in shares of Rogers Communications by 25.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,544 shares of the Wireless communications provider’s stock worth $121,000 after buying an additional 514 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Rogers Communications by 13.1% in the first quarter. Quadrant Capital Group LLC now owns 2,587 shares of the Wireless communications provider’s stock worth $147,000 after buying an additional 300 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Rogers Communications during the first quarter valued at about $202,000. Finally, Sigma Planning Corp purchased a new stake in Rogers Communications during the first quarter valued at about $208,000. 41.73% of the stock is owned by institutional investors.
Analyst Ratings Changes
RCI has been the topic of a number of research reports. Desjardins lowered their price target on Rogers Communications from C$80.00 to C$79.00 in a research report on Friday, July 29th. Canaccord Genuity Group raised Rogers Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, June 21st. TheStreet cut Rogers Communications from a “b-” rating to a “c+” rating in a research note on Monday, May 2nd. JPMorgan Chase & Co. cut their target price on Rogers Communications from C$90.00 to C$80.00 in a research note on Monday, July 25th. Finally, Scotiabank raised their target price on Rogers Communications from C$87.00 to C$89.00 in a research note on Thursday, April 21st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.67.
Rogers Communications Stock Down 1.7 %
Rogers Communications Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be issued a dividend of $0.3884 per share. The ex-dividend date is Thursday, September 8th. This represents a $1.55 annualized dividend and a dividend yield of 3.42%. Rogers Communications’s payout ratio is 61.00%.
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, 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 11.3 million subscribers.
- Get a free copy of the StockNews.com research report on Rogers Communications (RCI)
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