Vest Financial LLC Has $453,000 Stock Holdings in Rogers Communications Inc. (NYSE:RCI)

Vest Financial LLC lifted its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 36.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 12,250 shares of the Wireless communications provider’s stock after buying an additional 3,261 shares during the quarter. Vest Financial LLC’s holdings in Rogers Communications were worth $453,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in shares of Rogers Communications during the 1st quarter worth about $835,000. Barometer Capital Management Inc. acquired a new stake in Rogers Communications in the 4th quarter worth about $1,092,000. Janney Montgomery Scott LLC acquired a new stake in Rogers Communications in the 4th quarter worth about $1,719,000. CIBC Asset Management Inc raised its stake in Rogers Communications by 19.3% in the 4th quarter. CIBC Asset Management Inc now owns 1,532,864 shares of the Wireless communications provider’s stock worth $71,988,000 after purchasing an additional 247,496 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Rogers Communications by 8.6% in the 1st quarter. Russell Investments Group Ltd. now owns 195,754 shares of the Wireless communications provider’s stock worth $8,040,000 after purchasing an additional 15,454 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Canaccord Genuity Group cut shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. StockNews.com upgraded shares of Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $57.00 price objective (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.50.

Rogers Communications Price Performance

Shares of NYSE:RCI opened at $40.66 on Friday. The firm has a 50 day moving average of $39.12 and a 200-day moving average of $39.53. The stock has a market capitalization of $21.66 billion, a PE ratio of 50.83, a PEG ratio of 1.06 and a beta of 0.67. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 3.58. Rogers Communications Inc. has a 12 month low of $35.55 and a 12 month high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 EPS for the quarter, beating the consensus estimate of $0.83 by $0.33. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 EPS. On average, equities research analysts predict that Rogers Communications Inc. will post 3.59 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 9th will be issued a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, September 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 185.00%.

Rogers Communications 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.