Goldman Sachs Group Inc. Has $148.05 Million Stock Holdings in Rogers Communication, Inc. $RCI

Goldman Sachs Group Inc. increased its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 303.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,538,620 shares of the Wireless communications provider’s stock after purchasing an additional 4,166,861 shares during the period. Goldman Sachs Group Inc. owned approximately 1.03% of Rogers Communication worth $148,047,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its holdings in shares of Rogers Communication by 373.1% during the first quarter. Canada Pension Plan Investment Board now owns 2,870,559 shares of the Wireless communications provider’s stock worth $76,671,000 after buying an additional 2,263,859 shares in the last quarter. Value Partners Investments Inc. increased its holdings in shares of Rogers Communication by 1,252.8% during the first quarter. Value Partners Investments Inc. now owns 2,312,136 shares of the Wireless communications provider’s stock worth $61,808,000 after buying an additional 2,141,227 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Rogers Communication by 380.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,348,091 shares of the Wireless communications provider’s stock worth $62,717,000 after buying an additional 1,859,288 shares in the last quarter. Intact Investment Management Inc. increased its holdings in shares of Rogers Communication by 55.7% during the first quarter. Intact Investment Management Inc. now owns 2,913,921 shares of the Wireless communications provider’s stock worth $77,827,000 after buying an additional 1,042,690 shares in the last quarter. Finally, Burgundy Asset Management Ltd. increased its holdings in shares of Rogers Communication by 38.6% during the first quarter. Burgundy Asset Management Ltd. now owns 3,509,952 shares of the Wireless communications provider’s stock worth $93,828,000 after buying an additional 978,348 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 recently weighed in on the stock. Barclays raised their price objective on shares of Rogers Communication from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 12th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a report on Tuesday, July 15th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.00.

Rogers Communication Price Performance

RCI opened at $35.94 on Friday. Rogers Communication, Inc. has a one year low of $23.18 and a one year high of $41.20. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.70 and a quick ratio of 1.64. The company’s 50 day simple moving average is $34.36 and its 200-day simple moving average is $29.39. The stock has a market capitalization of $19.34 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 2.31 and a beta of 0.79.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.80 by $0.02. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $5.12 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. Rogers Communication’s revenue was up 2.4% compared to the same quarter last year. Sell-side analysts anticipate that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 8th will be paid a $0.3672 dividend. The ex-dividend date of this dividend is Monday, September 8th. This is a boost from Rogers Communication’s previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a yield of 4.1%. Rogers Communication’s payout ratio is 71.64%.

Rogers Communication 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.