Rogers Communication, Inc. $RCI Shares Sold by Forsta AP Fonden

Forsta AP Fonden lessened its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 28.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,400 shares of the Wireless communications provider’s stock after selling 24,600 shares during the quarter. Forsta AP Fonden’s holdings in Rogers Communication were worth $2,359,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Citigroup Inc. grew its position in shares of Rogers Communication by 16.9% in the third quarter. Citigroup Inc. now owns 395,919 shares of the Wireless communications provider’s stock valued at $13,633,000 after purchasing an additional 57,159 shares during the period. TD Asset Management Inc grew its position in shares of Rogers Communication by 18.0% in the third quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock valued at $287,340,000 after purchasing an additional 1,272,065 shares during the period. TD Waterhouse Canada Inc. grew its position in shares of Rogers Communication by 1.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,446,406 shares of the Wireless communications provider’s stock valued at $92,242,000 after purchasing an additional 32,872 shares during the period. DigitalBridge Group Inc. grew its position in shares of Rogers Communication by 33.5% in the third quarter. DigitalBridge Group Inc. now owns 1,159,502 shares of the Wireless communications provider’s stock valued at $39,968,000 after purchasing an additional 290,871 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Rogers Communication in the third quarter valued at about $20,881,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communication Stock Performance

RCI opened at $38.20 on Wednesday. The firm has a market capitalization of $20.64 billion, a PE ratio of 4.03, a PEG ratio of 3.46 and a beta of 0.62. Rogers Communication, Inc. has a twelve month low of $26.30 and a twelve month high of $41.14. The firm’s 50-day moving average price is $36.11 and its 200 day moving average price is $37.24. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $5.44 billion. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. Rogers Communication’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 earnings per share. As a group, sell-side analysts expect that Rogers Communication, Inc. will post 3.55 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RCI. TD Securities lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Desjardins reiterated a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Finally, Scotiabank upgraded shares of Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.