Forsta AP Fonden reduced its position in shares of Rogers Communications Inc. (NYSE:RCI – Free Report) (TSE:RCI.B) by 15.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,100 shares of the Wireless communications provider’s stock after selling 10,200 shares during the period. Forsta AP Fonden’s holdings in Rogers Communications were worth $2,075,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of RCI. FIL Ltd grew its stake in shares of Rogers Communications by 13.7% during the 4th quarter. FIL Ltd now owns 36,514,749 shares of the Wireless communications provider’s stock worth $1,709,377,000 after acquiring an additional 4,405,888 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Rogers Communications by 10.2% during the fourth quarter. 1832 Asset Management L.P. now owns 12,707,709 shares of the Wireless communications provider’s stock worth $594,848,000 after purchasing an additional 1,177,264 shares during the last quarter. TD Asset Management Inc grew its position in Rogers Communications by 4.2% in the first quarter. TD Asset Management Inc now owns 11,538,070 shares of the Wireless communications provider’s stock valued at $473,204,000 after purchasing an additional 463,368 shares in the last quarter. National Bank of Canada FI increased its stake in Rogers Communications by 37.5% in the 1st quarter. National Bank of Canada FI now owns 5,570,690 shares of the Wireless communications provider’s stock valued at $220,193,000 after buying an additional 1,519,894 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. increased its stake in Rogers Communications by 1.5% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 4,004,074 shares of the Wireless communications provider’s stock valued at $148,066,000 after buying an additional 57,245 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors.
Rogers Communications Stock Up 0.6 %
Rogers Communications stock opened at $40.91 on Tuesday. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.65 and a quick ratio of 0.60. The company’s 50-day moving average is $39.20 and its 200-day moving average is $39.43. The firm has a market capitalization of $21.68 billion, a PE ratio of 51.14, a P/E/G ratio of 1.06 and a beta of 0.67. Rogers Communications Inc. has a fifty-two week low of $35.55 and a fifty-two week high of $48.19.
Rogers Communications Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 9th will be given a dividend of $0.365 per share. The ex-dividend date is Monday, September 9th. This represents a $1.46 dividend on an annualized basis and a yield of 3.57%. Rogers Communications’s dividend payout ratio (DPR) is 185.00%.
Analysts Set New Price Targets
RCI has been the subject of several analyst reports. StockNews.com upgraded Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Canaccord Genuity Group cut Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $57.00 price target (down previously from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.50.
Get Our Latest Stock Report on RCI
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.
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