TD Asset Management Inc Has $209.36 Million Stock Holdings in Rogers Communication, Inc. $RCI

TD Asset Management Inc increased its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 9.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,072,860 shares of the Wireless communications provider’s stock after buying an additional 594,471 shares during the quarter. TD Asset Management Inc owned 1.31% of Rogers Communication worth $209,361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sequoia Financial Advisors LLC purchased a new position in shares of Rogers Communication during the second quarter valued at $328,000. Vest Financial LLC grew its holdings in shares of Rogers Communication by 20.3% during the second quarter. Vest Financial LLC now owns 54,251 shares of the Wireless communications provider’s stock valued at $1,609,000 after buying an additional 9,154 shares in the last quarter. Meritage Portfolio Management grew its holdings in shares of Rogers Communication by 137.9% during the second quarter. Meritage Portfolio Management now owns 159,115 shares of the Wireless communications provider’s stock valued at $4,719,000 after buying an additional 92,235 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Rogers Communication by 19.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,661 shares of the Wireless communications provider’s stock valued at $613,000 after buying an additional 3,328 shares in the last quarter. Finally, Lincluden Management Ltd. grew its holdings in shares of Rogers Communication by 26.8% during the second quarter. Lincluden Management Ltd. now owns 100,811 shares of the Wireless communications provider’s stock valued at $2,988,000 after buying an additional 21,304 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RCI. Barclays lifted their price target on Rogers Communication from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, August 12th. BMO Capital Markets restated an “outperform” rating on shares of Rogers Communication in a research note on Wednesday, July 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Rogers Communication in a research note on Wednesday, October 8th. Finally, Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.00.

Rogers Communication Stock Performance

RCI opened at $36.81 on Tuesday. The company has a market cap of $19.81 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 2.95 and a beta of 0.78. The stock has a 50-day moving average of $35.29 and a 200-day moving average of $30.57. Rogers Communication, Inc. has a 52-week low of $23.18 and a 52-week high of $39.33. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.64 and a current ratio of 1.70.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.02. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $5.12 billion. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 EPS. As a group, equities research analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 8th were paid a dividend of $0.3672 per share. This is a boost from Rogers Communication’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, September 8th. This represents a $1.47 annualized dividend and a dividend yield of 4.0%. Rogers Communication’s dividend payout ratio is currently 72.64%.

Rogers Communication 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 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.