Citigroup Inc. Has $10.45 Million Position in Rogers Communication, Inc. $RCI

Key Points

• Citigroup Inc. has significantly reduced its stake in Rogers Communication by 61.9% during the first quarter, now holding 391,386 shares worth approximately $10.45 million.
• Rogers Communication recently reported earnings of $0.82 per share, exceeding analysts' expectations, along with a revenue of $3.82 billion, which was below the anticipated $5.12 billion.
• The company has announced an increase in its quarterly dividend to $0.3672 per share, representing an annual yield of 4.2%.

Citigroup Inc. trimmed its holdings in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 61.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 391,386 shares of the Wireless communications provider's stock after selling 634,624 shares during the period. Citigroup Inc. owned about 0.07% of Rogers Communication worth $10,451,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Polar Asset Management Partners Inc. raised its position in shares of Rogers Communication by 239.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the Wireless communications provider's stock valued at $1,306,000 after purchasing an additional 29,982 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Rogers Communication by 280.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 241,730 shares of the Wireless communications provider's stock worth $7,428,000 after buying an additional 178,145 shares during the period. Gotham Asset Management LLC increased its position in Rogers Communication by 210.8% in the fourth quarter. Gotham Asset Management LLC now owns 30,718 shares of the Wireless communications provider's stock worth $944,000 after buying an additional 20,833 shares during the period. A&I Financial Services LLC increased its position in Rogers Communication by 66.0% in the first quarter. A&I Financial Services LLC now owns 19,637 shares of the Wireless communications provider's stock worth $525,000 after buying an additional 7,810 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in Rogers Communication by 3.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 455,687 shares of the Wireless communications provider's stock worth $12,306,000 after buying an additional 14,606 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communication Stock Performance

NYSE RCI traded up $0.2740 during trading on Thursday, hitting $35.6140. The company's stock had a trading volume of 611,791 shares, compared to its average volume of 1,109,806. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 2.23. The firm has a 50 day moving average price of $32.36 and a 200 day moving average price of $28.57. The firm has a market cap of $19.16 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 2.30 and a beta of 0.77. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $41.84.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.02. The business had revenue of $3.82 billion for the quarter, compared to analysts' expectations of $5.12 billion. Rogers Communication had a return on equity of 21.59% and a net margin of 7.33%.Rogers Communication's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 earnings per share. Equities research analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 8th will be paid a $0.3672 dividend. This is an increase from Rogers Communication's previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, September 8th. Rogers Communication's payout ratio is presently 72.64%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays increased their price target on Rogers Communication from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. Scotiabank reaffirmed a "sector perform" rating on shares of Rogers Communication in a research note on Tuesday, July 15th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Rogers Communication in a research note on Wednesday, July 2nd. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $59.00.

Rogers Communication 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.