Citigroup Inc. Has $13.63 Million Stock Position in Rogers Communication, Inc. $RCI

Citigroup Inc. lifted its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 16.9% in the third quarter, HoldingsChannel reports. The fund owned 395,919 shares of the Wireless communications provider’s stock after buying an additional 57,159 shares during the period. Citigroup Inc.’s holdings in Rogers Communication were worth $13,633,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in Rogers Communication in the second quarter worth about $78,714,000. CIBC Asset Management Inc boosted its stake in shares of Rogers Communication by 261.2% in the 3rd quarter. CIBC Asset Management Inc now owns 2,102,076 shares of the Wireless communications provider’s stock valued at $72,280,000 after purchasing an additional 1,520,062 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Rogers Communication by 15.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 9,603,756 shares of the Wireless communications provider’s stock worth $284,981,000 after buying an additional 1,255,794 shares during the period. Letko Brosseau & Associates Inc. grew its position in shares of Rogers Communication by 14.8% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 6,753,987 shares of the Wireless communications provider’s stock worth $199,922,000 after buying an additional 868,800 shares during the period. Finally, Burgundy Asset Management Ltd. raised its stake in shares of Rogers Communication by 18.9% during the second quarter. Burgundy Asset Management Ltd. now owns 4,172,546 shares of the Wireless communications provider’s stock worth $123,528,000 after buying an additional 662,594 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Price Performance

Shares of RCI opened at $39.87 on Friday. The stock has a 50 day simple moving average of $37.39 and a 200 day simple moving average of $36.95. Rogers Communication, Inc. has a 52-week low of $23.18 and a 52-week high of $40.26. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.57 and a current ratio of 0.61. The firm has a market capitalization of $21.54 billion, a PE ratio of 4.31, a P/E/G ratio of 5.21 and a beta of 0.74.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The business’s revenue was up 12.6% on a year-over-year basis. Sell-side analysts predict that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Tuesday, March 10th. Rogers Communication’s dividend payout ratio is 15.46%.

Analyst Ratings Changes

A number of analysts have commented on RCI shares. Wall Street Zen lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a report on Friday, January 30th. Desjardins cut Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. Royal Bank Of Canada restated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rogers Communication in a research report on Friday, December 26th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.00.

Rogers Communication Company Profile

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.