Swiss National Bank Has $43.49 Million Position in Rogers Communications Inc. (NYSE:RCI)

Swiss National Bank increased its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,080,000 shares of the Wireless communications provider’s stock after buying an additional 8,400 shares during the period. Swiss National Bank owned about 0.20% of Rogers Communications worth $43,494,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cromwell Holdings LLC acquired a new position in shares of Rogers Communications during the third quarter worth $31,000. Ridgewood Investments LLC acquired a new position in Rogers Communications during the 2nd quarter worth about $37,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Rogers Communications by 110.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 522 shares during the period. Grove Bank & Trust increased its stake in shares of Rogers Communications by 41.0% in the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after buying an additional 302 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Rogers Communications in the second quarter valued at about $55,000. 45.49% of the stock is owned by institutional investors.

Rogers Communications Stock Performance

NYSE:RCI opened at $35.28 on Thursday. The firm has a market capitalization of $18.80 billion, a P/E ratio of 17.21, a P/E/G ratio of 1.11 and a beta of 0.69. Rogers Communications Inc. has a twelve month low of $35.17 and a twelve month high of $48.19. The company has a fifty day moving average of $38.19 and a 200-day moving average of $38.61. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.35. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 earnings per share. As a group, sell-side analysts anticipate that Rogers Communications Inc. will post 3.55 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $0.3611 dividend. The ex-dividend date is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a yield of 4.09%. Rogers Communications’s dividend payout ratio (DPR) is presently 72.20%.

Analysts Set New Price Targets

RCI has been the topic of several analyst reports. TD Securities upped their target price on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Canaccord Genuity Group reiterated a “hold” rating and set a $57.00 price objective (down from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. BMO Capital Markets boosted their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Finally, Canaccord Genuity Group downgraded Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rogers Communications has a consensus rating of “Moderate Buy” and an average price target of $61.75.

About Rogers Communications

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.