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

Vest Financial LLC increased its stake in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 36.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,250 shares of the Wireless communications provider’s stock after acquiring an additional 3,261 shares during the period. Vest Financial LLC’s holdings in Rogers Communications were worth $453,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC acquired a new stake in shares of Rogers Communications during the second quarter worth $37,000. Headlands Technologies LLC acquired a new stake in shares of Rogers Communications during the first quarter worth $42,000. EverSource Wealth Advisors LLC raised its holdings in shares of Rogers Communications by 106.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,445 shares of the Wireless communications provider’s stock worth $68,000 after acquiring an additional 745 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Rogers Communications during the second quarter worth $55,000. Finally, CWM LLC raised its holdings in shares of Rogers Communications by 342.3% during the second quarter. CWM LLC now owns 1,809 shares of the Wireless communications provider’s stock worth $67,000 after acquiring an additional 1,400 shares during the period. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RCI has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $57.00 target price (down previously from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.50.

Rogers Communications Stock Up 1.1 %

Rogers Communications stock opened at $40.66 on Friday. The company has a market cap of $21.66 billion, a P/E ratio of 50.83, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67. Rogers Communications Inc. has a 1-year low of $35.55 and a 1-year high of $48.19. The company has a fifty day simple moving average of $39.12 and a 200 day simple moving average of $39.53. 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 (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, July 24th. The Wireless communications provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.33. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the firm posted $0.76 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. Research analysts anticipate that Rogers Communications Inc. will post 3.59 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 9th will be given a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Monday, September 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 185.00%.

Rogers Communications 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.