Intact Investment Management Inc. Acquires 261,220 Shares of Rogers Communications Inc. (NYSE:RCI)

Intact Investment Management Inc. grew its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 13.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,255,441 shares of the Wireless communications provider's stock after purchasing an additional 261,220 shares during the quarter. Rogers Communications makes up approximately 3.0% of Intact Investment Management Inc.'s investment portfolio, making the stock its 4th largest holding. Intact Investment Management Inc. owned approximately 0.43% of Rogers Communications worth $90,695,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RCI. Toronto Dominion Bank increased its position in Rogers Communications by 53.9% during the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider's stock worth $233,099,000 after buying an additional 2,206,690 shares during the period. National Bank of Canada FI grew its stake in shares of Rogers Communications by 37.5% in the first quarter. National Bank of Canada FI now owns 5,570,690 shares of the Wireless communications provider's stock valued at $220,193,000 after acquiring an additional 1,519,894 shares in the last quarter. Mackenzie Financial Corp increased its position in Rogers Communications by 10.2% during the second quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider's stock worth $390,738,000 after acquiring an additional 974,937 shares during the period. Burgundy Asset Management Ltd. raised its stake in Rogers Communications by 31.2% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,536,482 shares of the Wireless communications provider's stock worth $93,772,000 after purchasing an additional 603,876 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in Rogers Communications by 4.2% in the 1st quarter. TD Asset Management Inc now owns 11,538,070 shares of the Wireless communications provider's stock valued at $473,204,000 after purchasing an additional 463,368 shares during the period. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communications Price Performance

Shares of RCI stock traded up $0.58 on Monday, reaching $36.66. The company had a trading volume of 1,463,160 shares, compared to its average volume of 731,410. The business's 50-day moving average is $39.37 and its 200 day moving average is $38.80. Rogers Communications Inc. has a one year low of $35.55 and a one year high of $48.19. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. The stock has a market capitalization of $19.53 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.12 and a beta of 0.69.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.35. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The company's quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the business posted $0.95 earnings per share. Equities research analysts forecast that Rogers Communications Inc. will post 3.55 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications's payout ratio is 72.20%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RCI shares. TD Securities raised their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Canaccord Genuity Group downgraded Rogers Communications from a "buy" rating to a "hold" rating in a research report on Thursday, July 25th. Canaccord Genuity Group reissued a "hold" rating and set a $57.00 target price (down from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th. StockNews.com raised Rogers Communications from a "sell" rating to a "hold" rating in a research note on Thursday, July 11th. Finally, BMO Capital Markets increased their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, September 19th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.75.

Rogers Communications 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 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.