Lansforsakringar Fondforvaltning AB publ Sells 21,227 Shares of Rogers Communication, Inc. $RCI

Key Points

• Lansforsakringar Fondforvaltning AB publ has reduced its holdings in Rogers Communication, Inc. by 21.2%, selling 21,227 shares and leaving it with 78,949 shares valued at approximately $2.1 million.
• Rogers Communication is set to increase its quarterly dividend to $0.3672 per share, representing a yield of 4.1% and an annualized dividend of $1.47.
• The company reported earnings of $0.82 per share for the quarter, exceeding analyst expectations, but its revenue of $3.82 billion fell short of forecasts of $5.12 billion.

Lansforsakringar Fondforvaltning AB publ lessened its stake in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 21.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 78,949 shares of the Wireless communications provider's stock after selling 21,227 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Rogers Communication were worth $2,108,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL grew its position in Rogers Communication by 12.2% in the first quarter. Gamco Investors INC. ET AL now owns 452,127 shares of the Wireless communications provider's stock worth $12,085,000 after acquiring an additional 49,125 shares in the last quarter. Walleye Capital LLC bought a new stake in Rogers Communication in the first quarter worth approximately $575,000. Northwestern Mutual Wealth Management Co. grew its position in Rogers Communication by 48.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,231 shares of the Wireless communications provider's stock worth $113,000 after acquiring an additional 1,389 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Rogers Communication by 26.6% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 212,645 shares of the Wireless communications provider's stock worth $5,680,000 after acquiring an additional 44,627 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Rogers Communication in the first quarter worth approximately $1,112,000. 45.49% of the stock is owned by institutional investors.

Rogers Communication Stock Performance

Shares of NYSE RCI traded up $0.25 during trading hours on Friday, hitting $35.84. 1,225,759 shares of the stock were exchanged, compared to its average volume of 801,740. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.70 and a quick ratio of 1.64. The company's 50 day moving average is $33.99 and its 200 day moving average is $29.19. The firm has a market capitalization of $19.28 billion, a P/E ratio of 17.83, a P/E/G ratio of 2.34 and a beta of 0.79. Rogers Communication, Inc. has a one year low of $23.18 and a one year high of $41.84.

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

Rogers Communication Increases Dividend

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

Analysts Set New Price Targets

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

About Rogers Communication

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.