Rogers Communications Inc. (NYSE:RCI) Shares Bought by Cumberland Partners Ltd

Cumberland Partners Ltd lifted its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 3.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 718,261 shares of the Wireless communications provider’s stock after buying an additional 23,774 shares during the period. Rogers Communications makes up about 2.9% of Cumberland Partners Ltd’s holdings, making the stock its 10th largest holding. Cumberland Partners Ltd’s holdings in Rogers Communications were worth $33,622,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in shares of Rogers Communications by 62.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 700 shares of the Wireless communications provider’s stock valued at $27,000 after purchasing an additional 270 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Rogers Communications in the 3rd quarter valued at about $29,000. Fifth Third Bancorp raised its holdings in shares of Rogers Communications by 120.1% in the 4th quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock valued at $31,000 after purchasing an additional 359 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Rogers Communications by 120.8% in the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock valued at $43,000 after purchasing an additional 499 shares during the period. Finally, CVA Family Office LLC bought a new stake in shares of Rogers Communications in the 4th quarter valued at about $51,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RCI shares. StockNews.com cut shares of Rogers Communications from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Barclays dropped their target price on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.00.

Rogers Communications Stock Performance

Rogers Communications stock traded up $0.50 during trading hours on Tuesday, hitting $39.59. The company had a trading volume of 964,856 shares, compared to its average volume of 546,139. The firm has a market cap of $20.93 billion, a PE ratio of 32.99, a PEG ratio of 1.66 and a beta of 0.59. The company has a debt-to-equity ratio of 3.81, a current ratio of 0.89 and a quick ratio of 0.84. Rogers Communications Inc. has a one year low of $36.55 and a one year high of $50.00. The firm has a 50-day moving average of $42.12 and a 200 day moving average of $43.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Thursday, February 1st. The Wireless communications provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.11. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Rogers Communications had a net margin of 4.38% and a return on equity of 22.17%. On average, sell-side analysts expect that Rogers Communications Inc. will post 3.58 earnings per share for the current year.

Rogers Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Monday, March 11th were issued a $0.3742 dividend. This is a boost from Rogers Communications’s previous quarterly dividend of $0.36. This represents a $1.50 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Friday, March 8th. Rogers Communications’s dividend payout ratio is currently 122.50%.

About Rogers Communications

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 financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.