Lorne Steinberg Wealth Management Inc. Purchases 11,112 Shares of Rogers Communications Inc. (NYSE:RCI)

Lorne Steinberg Wealth Management Inc. raised its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 15.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,310 shares of the Wireless communications provider’s stock after acquiring an additional 11,112 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Rogers Communications were worth $3,807,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Orion Portfolio Solutions LLC raised its holdings in Rogers Communications by 317.7% in the third quarter. Orion Portfolio Solutions LLC now owns 33,877 shares of the Wireless communications provider’s stock worth $1,301,000 after purchasing an additional 25,766 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Rogers Communications by 101.8% during the third quarter. Qube Research & Technologies Ltd now owns 131,276 shares of the Wireless communications provider’s stock valued at $5,040,000 after purchasing an additional 66,231 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Rogers Communications by 13.7% in the third quarter. Invesco Ltd. now owns 200,294 shares of the Wireless communications provider’s stock worth $7,689,000 after acquiring an additional 24,178 shares during the period. Scotia Capital Inc. boosted its holdings in shares of Rogers Communications by 9.3% in the third quarter. Scotia Capital Inc. now owns 2,625,594 shares of the Wireless communications provider’s stock worth $100,617,000 after buying an additional 224,293 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Rogers Communications by 32.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,101,225 shares of the Wireless communications provider’s stock worth $81,049,000 after acquiring an additional 508,900 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Down 3.7 %

NYSE RCI traded down $1.46 during trading on Wednesday, reaching $38.13. 731,635 shares of the company’s stock traded hands, compared to its average volume of 552,322. The company has a debt-to-equity ratio of 3.81, a current ratio of 0.89 and a quick ratio of 0.84. The firm has a market cap of $20.15 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. The company’s 50 day simple moving average is $42.12 and its two-hundred day simple moving average is $43.19. Rogers Communications Inc. has a 12-month low of $36.55 and a 12-month high of $50.00.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, February 1st. The Wireless communications provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.99 billion. Rogers Communications had a return on equity of 22.17% and a net margin of 4.38%. As a group, sell-side analysts forecast that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Monday, March 11th were paid a dividend of $0.3742 per share. This represents a $1.50 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Friday, March 8th. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.36. Rogers Communications’s payout ratio is 122.50%.

Analyst Ratings Changes

RCI has been the topic of a number of recent analyst reports. Barclays decreased their price target on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. StockNews.com lowered Rogers Communications from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.00.

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.