Hillsdale Investment Management Inc. Buys 345,010 Shares of Rogers Communication, Inc. $RCI

Hillsdale Investment Management Inc. raised its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 56.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 951,727 shares of the Wireless communications provider’s stock after purchasing an additional 345,010 shares during the period. Rogers Communication accounts for approximately 1.0% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 23rd largest holding. Hillsdale Investment Management Inc. owned 0.18% of Rogers Communication worth $35,989,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. lifted its position in shares of Rogers Communication by 52.3% during the 2nd quarter. Invesco Ltd. now owns 934,712 shares of the Wireless communications provider’s stock valued at $27,724,000 after buying an additional 321,124 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Rogers Communication by 52.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock valued at $59,000 after acquiring an additional 683 shares during the period. Marshall Wace LLP lifted its holdings in Rogers Communication by 36.5% during the second quarter. Marshall Wace LLP now owns 37,179 shares of the Wireless communications provider’s stock valued at $1,103,000 after purchasing an additional 9,951 shares during the last quarter. Cerity Partners LLC lifted its holdings in Rogers Communication by 7.0% during the second quarter. Cerity Partners LLC now owns 11,007 shares of the Wireless communications provider’s stock valued at $326,000 after purchasing an additional 724 shares during the last quarter. Finally, AXA S.A. lifted its holdings in Rogers Communication by 231.1% during the second quarter. AXA S.A. now owns 49,945 shares of the Wireless communications provider’s stock valued at $1,481,000 after purchasing an additional 34,860 shares during the last quarter. 45.49% of the stock is owned by institutional investors.

Rogers Communication Stock Up 0.8%

Shares of NYSE RCI opened at $38.57 on Friday. Rogers Communication, Inc. has a 52 week low of $26.30 and a 52 week high of $41.14. The business has a 50-day simple moving average of $36.10 and a two-hundred day simple moving average of $37.23. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.43. The company has a market cap of $20.84 billion, a P/E ratio of 4.07, a P/E/G ratio of 3.36 and a beta of 0.61.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period last year, the business earned $0.99 earnings per share. Rogers Communication’s revenue was up 10.2% compared to the same quarter last year. Research analysts anticipate that Rogers Communication, Inc. will post 3.55 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 9th. Rogers Communication’s dividend payout ratio is 15.51%.

Analyst Ratings Changes

Several analysts have recently issued reports on RCI shares. Scotiabank raised shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. Desjardins reissued a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Wall Street Zen lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. TD Cowen reissued a “buy” rating on shares of Rogers Communication in a report on Friday, January 30th. Finally, TD Securities cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.00.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.