Stevens Capital Management LP Has $801,000 Stake in Rogers Communication, Inc. (RCI)

Stevens Capital Management LP increased its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 12.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,124 shares of the Wireless communications provider’s stock after buying an additional 2,001 shares during the period. Stevens Capital Management LP’s holdings in Rogers Communication were worth $801,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in RCI. Norges Bank acquired a new stake in Rogers Communication during the fourth quarter valued at approximately $49,641,000. Beutel Goodman & Co Ltd. increased its stake in Rogers Communication by 4.7% in the first quarter. Beutel Goodman & Co Ltd. now owns 23,504,111 shares of the Wireless communications provider’s stock valued at $1,037,483,000 after buying an additional 1,045,495 shares in the last quarter. Intact Investment Management Inc. increased its stake in Rogers Communication by 84.0% in the fourth quarter. Intact Investment Management Inc. now owns 1,908,800 shares of the Wireless communications provider’s stock valued at $98,838,000 after buying an additional 871,600 shares in the last quarter. Fiera Capital Corp increased its stake in Rogers Communication by 185.4% in the fourth quarter. Fiera Capital Corp now owns 1,078,002 shares of the Wireless communications provider’s stock valued at $41,509,000 after buying an additional 700,222 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Rogers Communication by 21.8% in the first quarter. Acadian Asset Management LLC now owns 3,426,591 shares of the Wireless communications provider’s stock worth $151,076,000 after buying an additional 613,400 shares during the period. 48.73% of the stock is currently owned by institutional investors.

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

Shares of Rogers Communication, Inc. (RCI) traded up 0.32% on Friday, reaching $47.04. 436,584 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $46.29 and a 200 day moving average price of $42.93. The firm has a market cap of $24.22 billion, a PE ratio of 36.32 and a beta of 0.87. Rogers Communication, Inc. has a one year low of $37.03 and a one year high of $47.72.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Tuesday, April 18th. The Wireless communications provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. Rogers Communication had a return on equity of 26.98% and a net margin of 6.56%. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the prior year, the business earned $0.51 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts expect that Rogers Communication, Inc. will post $2.49 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 4th. Shareholders of record on Monday, June 12th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Thursday, June 8th. Rogers Communication’s dividend payout ratio is 108.40%.

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RCI has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Wednesday, March 29th. CIBC downgraded shares of Rogers Communication from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, April 5th. They noted that the move was a valuation call. Canaccord Genuity reiterated a “buy” rating and set a $60.00 target price on shares of Rogers Communication in a research report on Thursday, April 13th. Finally, BidaskClub upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Rogers Communication has a consensus rating of “Hold” and an average price target of $54.43.

Rogers Communication Company Profile

Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.

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