Swiss National Bank Sells 16,600 Shares of Rogers Communication, Inc. (NYSE:RCI)

Swiss National Bank lowered its stake in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,024,000 shares of the Wireless communications provider's stock after selling 16,600 shares during the quarter. Swiss National Bank owned approximately 0.19% of Rogers Communication worth $27,366,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in Rogers Communication by 115.3% during the fourth quarter. Franklin Resources Inc. now owns 23,467 shares of the Wireless communications provider's stock valued at $721,000 after purchasing an additional 12,567 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Rogers Communication in the fourth quarter valued at approximately $275,000. Raymond James Financial Inc. purchased a new stake in Rogers Communication in the fourth quarter valued at approximately $608,000. Barclays PLC raised its stake in shares of Rogers Communication by 15.7% during the fourth quarter. Barclays PLC now owns 170,070 shares of the Wireless communications provider's stock worth $5,228,000 after acquiring an additional 23,043 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Rogers Communication during the fourth quarter valued at about $755,000. Institutional investors own 45.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RCI. Barclays boosted their price objective on shares of Rogers Communication from $31.00 to $33.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. Scotiabank reissued a "sector perform" rating on shares of Rogers Communication in a research report on Tuesday, July 15th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $59.00.

Rogers Communication Stock Up 0.8%

Rogers Communication stock traded up $0.28 during mid-day trading on Friday, reaching $35.34. The stock had a trading volume of 1,007,886 shares, compared to its average volume of 1,328,114. 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 has a market capitalization of $19.01 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.91 and a beta of 0.77. The company has a 50-day moving average price of $31.71 and a two-hundred day moving average price of $28.37. 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 earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.02. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The business had revenue of $3.82 billion for the quarter, compared to analysts' expectations of $5.12 billion. During the same quarter in the prior year, the business earned $1.16 EPS. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts expect that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 8th will be issued a $0.3672 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $1.47 annualized dividend and a yield of 4.2%. This is a positive change from Rogers Communication's previous quarterly dividend of $0.36. Rogers Communication's payout ratio is currently 72.64%.

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.