Northwestern Mutual Wealth Management Co. Grows Stock Position in Rogers Communication, Inc. $RCI

Northwestern Mutual Wealth Management Co. lifted its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 1,401.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,718 shares of the Wireless communications provider’s stock after purchasing an additional 152,815 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Rogers Communication were worth $6,177,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RCI. Bank of America Corp DE raised its stake in shares of Rogers Communication by 67.8% during the third quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock worth $167,765,000 after purchasing an additional 1,966,476 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Rogers Communication by 261.2% during the third quarter. CIBC Asset Management Inc now owns 2,102,076 shares of the Wireless communications provider’s stock worth $72,280,000 after purchasing an additional 1,520,062 shares during the last quarter. Caisse de depot et placement du Quebec purchased a new stake in shares of Rogers Communication during the third quarter worth approximately $47,082,000. TD Asset Management Inc raised its stake in shares of Rogers Communication by 18.0% during the third quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock worth $287,340,000 after purchasing an additional 1,272,065 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Rogers Communication by 390.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,021,444 shares of the Wireless communications provider’s stock worth $35,156,000 after purchasing an additional 813,286 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Trading Down 0.2%

NYSE:RCI opened at $36.59 on Friday. The stock has a fifty day moving average price of $36.24 and a two-hundred day moving average price of $37.24. The stock has a market capitalization of $19.77 billion, a price-to-earnings ratio of 3.86, a PEG ratio of 3.22 and a beta of 0.61. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55. Rogers Communication, Inc. has a 1 year low of $25.80 and a 1 year high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.Rogers Communication’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 earnings per share. As a group, sell-side analysts anticipate that Rogers Communication, Inc. will post 3.55 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 9th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.00 annualized dividend and a yield of 5.5%. Rogers Communication’s dividend payout ratio is 15.51%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. TD Cowen restated a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Scotiabank upgraded Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. Barclays reiterated a “positive” rating and issued a $37.00 price objective on shares of Rogers Communication in a research report on Tuesday, January 27th. Wall Street Zen cut Rogers Communication from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Desjardins reiterated a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Rogers Communication currently has an average rating of “Hold” and a consensus target price of $36.00.

Rogers Communication Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.