Swiss National Bank Decreases Stock Holdings in Rogers Communications Inc. (NYSE:RCI)

Swiss National Bank lessened its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,040,600 shares of the Wireless communications provider’s stock after selling 39,400 shares during the quarter. Swiss National Bank’s holdings in Rogers Communications were worth $31,974,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in Rogers Communications by 371.0% during the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after acquiring an additional 3,980,525 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Rogers Communications by 90.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock worth $115,775,000 after acquiring an additional 1,375,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Rogers Communications by 86.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock worth $104,965,000 after acquiring an additional 1,211,482 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Rogers Communications by 18.6% during the 3rd quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after purchasing an additional 977,924 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Rogers Communications by 1,046.8% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock valued at $24,101,000 after purchasing an additional 547,201 shares during the period. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Up 1.2 %

Shares of NYSE:RCI opened at $28.30 on Tuesday. The firm has a 50 day simple moving average of $28.26 and a 200-day simple moving average of $33.65. Rogers Communications Inc. has a twelve month low of $26.57 and a twelve month high of $42.96. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The company has a market capitalization of $15.12 billion, a PE ratio of 12.20, a P/E/G ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. On average, equities analysts predict that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 10th will be given a $0.347 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 4.91%. Rogers Communications’s dividend payout ratio (DPR) is presently 59.48%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RCI shares. Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Morgan Stanley began coverage on shares of Rogers Communications in a report on Monday, December 16th. They set an “underweight” rating for the company. Finally, Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Rogers Communications presently has an average rating of “Hold” 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.