Hillsdale Investment Management Inc. boosted its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 172.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,755 shares of the Wireless communications provider’s stock after purchasing an additional 167,720 shares during the period. Rogers Communications comprises 1.8% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 17th biggest position. Hillsdale Investment Management Inc. owned approximately 0.05% of Rogers Communications worth $13,621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Beutel Goodman & Co Ltd. grew its holdings in Rogers Communications by 9.7% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 21,014,591 shares of the Wireless communications provider’s stock valued at $998,281,000 after buying an additional 1,854,605 shares during the last quarter. Cidel Asset Management Inc. grew its holdings in Rogers Communications by 1.4% during the 3rd quarter. Cidel Asset Management Inc. now owns 1,217,803 shares of the Wireless communications provider’s stock valued at $62,586,000 after buying an additional 17,199 shares during the last quarter. Millennium Management LLC grew its holdings in Rogers Communications by 13.0% during the 2nd quarter. Millennium Management LLC now owns 236,188 shares of the Wireless communications provider’s stock valued at $11,209,000 after buying an additional 27,200 shares during the last quarter. Northern Trust Corp grew its holdings in Rogers Communications by 7.8% during the 2nd quarter. Northern Trust Corp now owns 440,048 shares of the Wireless communications provider’s stock valued at $20,885,000 after buying an additional 31,950 shares during the last quarter. Finally, Cozad Asset Management Inc. acquired a new stake in Rogers Communications during the 2nd quarter valued at $267,000. 46.10% of the stock is owned by hedge funds and other institutional investors.

RCI stock opened at $53.72 on Monday. Rogers Communications Inc. has a 52-week low of $43.11 and a 52-week high of $54.95. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.65 and a current ratio of 0.72. The firm has a market cap of $27.66 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 3.32 and a beta of 0.72.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Friday, October 19th. The Wireless communications provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.05. Rogers Communications had a return on equity of 29.37% and a net margin of 13.34%. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.91 billion. As a group, equities research analysts predict that Rogers Communications Inc. will post 3.23 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Tuesday, December 11th will be issued a dividend of $0.3695 per share. This is a boost from Rogers Communications’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 10th. This represents a $1.48 annualized dividend and a dividend yield of 2.75%. Rogers Communications’s dividend payout ratio (DPR) is 54.24%.

Several research firms have recently issued reports on RCI. Desjardins cut Rogers Communications from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. ValuEngine upgraded Rogers Communications from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Finally, Zacks Investment Research upgraded Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Wednesday, September 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $56.00.

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Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.

Further Reading: Fiduciary

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Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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