The Sumitomo Mitsui Trust Holdings Inc. decides to keep it stake in Rogers Communication Inc. (RCI) to the level of $46,168,000

The Sumitomo Mitsui Trust Holdings Inc. decides to keep it stake in Rogers Communication Inc. (RCI) to the level of $46,168,000

Sumitomo Mitsui Trust Holdings Inc. increased its position in Rogers Communication Inc. (NYSE:RCI) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 1,145,722 shares of the company’s stock after buying an additional 8,559 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Rogers Communication were worth $46,168,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RCI. Royal Bank of Canada boosted its stake in shares of Rogers Communication by 11.8% in the first quarter. Royal Bank of Canada now owns 36,359,454 shares of the company’s stock valued at $1,455,104,000 after buying an additional 3,848,069 shares during the last quarter. Beutel Goodman & Co Ltd. raised its position in Rogers Communication by 4.8% in the second quarter. Beutel Goodman & Co Ltd. now owns 23,399,933 shares of the company’s stock valued at $940,746,000 after buying an additional 1,077,355 shares during the period. Acadian Asset Management LLC raised its position in Rogers Communication by 18.3% in the second quarter. Acadian Asset Management LLC now owns 2,494,191 shares of the company’s stock valued at $100,443,000 after buying an additional 386,100 shares during the period. NN Investment Partners Holdings N.V. raised its position in Rogers Communication by 485.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 172,189 shares of the company’s stock valued at $6,957,000 after buying an additional 142,767 shares during the period. Finally, Renaissance Technologies LLC raised its position in Rogers Communication by 34.4% in the first quarter. Renaissance Technologies LLC now owns 537,500 shares of the company’s stock valued at $21,519,000 after buying an additional 137,700 shares during the period. Institutional investors own 49.28% of the company’s stock.

Rogers Communication Inc. (NYSE:RCI) traded down 0.10% during midday trading on Monday, hitting $41.29. 495,617 shares of the stock were exchanged. The firm has a 50-day moving average price of $42.29 and a 200-day moving average price of $40.89. Rogers Communication Inc. has a one year low of $32.50 and a one year high of $45.50. The stock has a market cap of $21.25 billion, a P/E ratio of 20.06 and a beta of 0.87.

Rogers Communication (NYSE:RCI) last issued its quarterly earnings results on Monday, October 17th. The company reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.03. Rogers Communication had a return on equity of 24.94% and a net margin of 10.42%. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the prior year, the business earned $0.92 earnings per share. Rogers Communication’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Rogers Communication Inc. will post $2.21 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Sunday, September 11th were issued a dividend of $0.48 per share. The ex-dividend date was Wednesday, September 7th. This is an increase from Rogers Communication’s previous quarterly dividend of $0.37. This represents a $1.92 annualized dividend and a dividend yield of 4.65%. Rogers Communication’s dividend payout ratio (DPR) is currently 71.36%.

RCI has been the subject of several recent research reports. Zacks Investment Research raised shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Wednesday, September 21st. TD Securities reaffirmed a “buy” rating and set a $58.00 target price on shares of Rogers Communication in a report on Wednesday, July 6th. Bank of America Corp. initiated coverage on shares of Rogers Communication in a report on Tuesday, July 5th. They set a “neutral” rating for the company. TheStreet raised shares of Rogers Communication from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Rogers Communication in a report on Tuesday, July 19th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Rogers Communication currently has a consensus rating of “Buy” and an average price target of C$50.00.

About Rogers Communication

Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet and telephony services to consumers and businesses. The Company operates through four segments: Wireless, Cable, Business Solutions and Media. Its Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.

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