Forsta AP Fonden cut its holdings in Rogers Communications Inc. (NYSE:RCI – Free Report) (TSE:RCI.B) by 42.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,200 shares of the Wireless communications provider’s stock after selling 90,900 shares during the quarter. Forsta AP Fonden’s holdings in Rogers Communications were worth $5,610,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. US Bancorp DE grew its stake in shares of Rogers Communications by 3.0% in the 1st quarter. US Bancorp DE now owns 7,289 shares of the Wireless communications provider’s stock worth $413,000 after purchasing an additional 213 shares during the last quarter. Brinker Capital Investments LLC increased its holdings in shares of Rogers Communications by 3.1% in the first quarter. Brinker Capital Investments LLC now owns 7,523 shares of the Wireless communications provider’s stock valued at $427,000 after buying an additional 226 shares in the last quarter. 44 Wealth Management LLC lifted its position in shares of Rogers Communications by 4.3% during the 1st quarter. 44 Wealth Management LLC now owns 5,549 shares of the Wireless communications provider’s stock valued at $257,000 after acquiring an additional 230 shares during the last quarter. FineMark National Bank & Trust boosted its stake in shares of Rogers Communications by 2.1% during the 4th quarter. FineMark National Bank & Trust now owns 14,293 shares of the Wireless communications provider’s stock worth $669,000 after acquiring an additional 293 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Rogers Communications by 26.7% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,760 shares of the Wireless communications provider’s stock worth $99,000 after acquiring an additional 371 shares during the last quarter. 40.77% of the stock is owned by institutional investors and hedge funds.
Rogers Communications Trading Up 0.5 %
Shares of NYSE:RCI opened at $45.34 on Friday. Rogers Communications Inc. has a 12-month low of $36.23 and a 12-month high of $50.16. The company has a quick ratio of 1.85, a current ratio of 1.91 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $22.89 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 1.24 and a beta of 0.52. The firm has a fifty day moving average of $46.13 and a two-hundred day moving average of $46.96.
Rogers Communications Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Friday, June 9th were paid a dividend of $0.37 per share. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, June 8th. This represents a $1.48 annualized dividend and a dividend yield of 3.26%. Rogers Communications’s dividend payout ratio is 56.11%.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on RCI shares. Barclays assumed coverage on Rogers Communications in a research report on Monday, May 8th. They issued an “overweight” rating for the company. Desjardins downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a research report on Monday, April 3rd. Finally, StockNews.com downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Rogers Communications presently has an average rating of “Moderate Buy” and an average price target of $74.31.
About Rogers Communications
Rogers Communications Inc operates as a communications and media company in North America. 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 services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.
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