Swiss National Bank Sells 35,000 Shares of Rogers Communications Inc. (NYSE:RCI)

Swiss National Bank cut its position in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,153,600 shares of the Wireless communications provider’s stock after selling 35,000 shares during the quarter. Swiss National Bank owned about 0.22% of Rogers Communications worth $54,104,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cascade Investment Advisors Inc. increased its position in shares of Rogers Communications by 42.7% during the third quarter. Cascade Investment Advisors Inc. now owns 32,070 shares of the Wireless communications provider’s stock valued at $1,231,000 after acquiring an additional 9,600 shares in the last quarter. Lorne Steinberg Wealth Management Inc. increased its holdings in shares of Rogers Communications by 1.9% in the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 70,198 shares of the Wireless communications provider’s stock worth $2,707,000 after purchasing an additional 1,311 shares in the last quarter. K.J. Harrison & Partners Inc raised its stake in shares of Rogers Communications by 10.6% in the third quarter. K.J. Harrison & Partners Inc now owns 15,287 shares of the Wireless communications provider’s stock worth $590,000 after purchasing an additional 1,460 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Rogers Communications by 317.7% during the third quarter. Orion Portfolio Solutions LLC now owns 33,877 shares of the Wireless communications provider’s stock valued at $1,301,000 after purchasing an additional 25,766 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Rogers Communications during the third quarter valued at $29,000. 45.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RCI has been the subject of a number of recent analyst reports. StockNews.com lowered Rogers Communications from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Barclays decreased their price objective on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat, Rogers Communications has an average rating of “Moderate Buy” and an average price target of $46.00.

Rogers Communications Price Performance

RCI stock opened at $38.75 on Tuesday. The company has a market capitalization of $20.48 billion, a PE ratio of 48.44, a price-to-earnings-growth ratio of 1.02 and a beta of 0.62. The company’s fifty day moving average price is $40.77 and its 200-day moving average price is $43.14. Rogers Communications Inc. has a one year low of $36.55 and a one year high of $49.60. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.72 and a current ratio of 0.77.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. On average, equities analysts anticipate that Rogers Communications Inc. will post 3.64 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 10th will be paid a $0.3658 dividend. This represents a $1.46 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Monday, June 10th. Rogers Communications’s dividend payout ratio is currently 183.75%.

Rogers Communications 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.