Aaron Wealth Advisors LLC acquired a new stake in Rogers Communications Inc. (NYSE:RCI – Get Rating) (TSE:RCI.B) stock during the first quarter, according to its recent SEC filing. The fund purchased 28,375 shares of the wireless communications provider for approximately $500,000.
A number of other hedge funds and other institutional investors have recently changed their positions in RCI. EverSource Wealth Advisors LLC acquired a new stake in Rogers Communications stock valued at $49,000 during the fourth quarter. Advisor Group Holdings Inc. increased its stake in Rogers Communications by 25.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,544 shares of the wireless communications provider, valued at $121,000, after purchasing an additional 514 shares during the period. Quadrant Capital Group LLC increased its stake in Rogers Communications shares by 13.1% in the first quarter. Quadrant Capital Group LLC now owns 2,587 shares of the wireless communications provider, valued at $147,000, after purchasing an additional 300 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Rogers Communications stock valued at $202,000 during the first quarter. Finally, in Q1, Sigma Planning Corp acquired a new stake in Rogers Communications stock valued at $208,000. 41.73% of the shares are currently held by institutional investors.
Wall Street analyst ponders
RCI has been the subject of a number of analyst reports. TheStreet lowered Rogers Communications from a “b-” rating to a “c+” rating in a research note on Monday, May 2nd. TD Securities upgraded Rogers Communications to a “buy” rating in a research note on Monday, August 8th. The Royal Bank of Canada lowered its target price on Rogers Communications from C$75.00 to C$73.00 in a research note on Thursday, July 28. BMO Capital Markets lowered its price target on Rogers Communications from C$75.00 to C$72.00 in a research note on Monday, July 11. Finally, National Bank Financial lowered its target price on Rogers Communications to $80.00 from $83.00 in a research note on Wednesday, July 13. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.67.
Price history of Rogers Communications
RCI opened at $45.39 on Monday. The stock has a market cap of $22.92 billion, a P/E of 17.53, a PEG ratio of 2.56, and a beta of 0.44. Rogers Communications Inc. has a 12-month low of $42.94 and a 12-month high of $64.55. The stock has a 50-day moving average price of $46.34 and a 200-day moving average price of $50.96. The company has a current ratio of 2.49, a quick ratio of 2.43 and a debt-to-equity ratio of 2.85.
Rogers Communications lowers dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9 will receive a dividend of $0.3884 per share. That equates to an annualized dividend of $1.55 and a yield of 3.42%. The ex-dividend date of this dividend is Thursday September 8th. Rogers Communications’ payout ratio is currently 61.00%.
Rogers communication profile
Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable and Media. The company provides mobile Internet access, wireless voice and enhanced voice, device and accessory financing, wireless home phone, device protection, email, global voice and data roaming, fixed-line, machine-to-machine and Internet-of- Things solutions and advanced enterprise wireless solutions and device delivery services; and postpaid and prepaid services under the Rogers, Fido and Chatr brands for approximately 11.3 million subscribers.
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