Rogers Communication, Inc. $RCI Position Lessened by Andra AP fonden

Andra AP fonden decreased its position in shares of Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 50.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 191,280 shares of the Wireless communications provider's stock after selling 193,900 shares during the quarter. Andra AP fonden's holdings in Rogers Communication were worth $6,217,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RCI. EverSource Wealth Advisors LLC lifted its stake in shares of Rogers Communication by 39.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,689 shares of the Wireless communications provider's stock worth $101,000 after acquiring an additional 761 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Rogers Communication by 1,314.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,337 shares of the Wireless communications provider's stock valued at $126,000 after buying an additional 3,101 shares in the last quarter. Parallel Advisors LLC grew its holdings in Rogers Communication by 10.2% during the first quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider's stock worth $130,000 after acquiring an additional 312 shares during the period. Oslo Pensjonsforsikring AS acquired a new position in Rogers Communication during the first quarter worth about $180,000. Finally, Cary Street Partners Financial LLC bought a new stake in Rogers Communication in the fourth quarter worth about $195,000. 45.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on RCI shares. Barclays reduced their target price on shares of Rogers Communication from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, July 16th. TD Securities reiterated a "buy" rating on shares of Rogers Communication in a research report on Thursday, July 23rd. Raymond James Financial began coverage on Rogers Communication in a research note on Wednesday, July 15th. They set an "outperform" rating for the company. Wall Street Zen upgraded Rogers Communication from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Rogers Communication in a research report on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $36.00.

Rogers Communication Trading Up 0.1%

Shares of NYSE RCI opened at $33.31 on Thursday. The business has a 50 day simple moving average of $35.39 and a 200 day simple moving average of $35.94. Rogers Communication, Inc. has a 52 week low of $31.38 and a 52 week high of $41.14. The stock has a market cap of $17.99 billion, a price-to-earnings ratio of 4.02, a PEG ratio of 4.13 and a beta of 0.66. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.51 and a current ratio of 0.55.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.03. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the company earned $1.14 EPS. The company's revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts predict that Rogers Communication, Inc. will post 3.29 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 8th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.0%. The ex-dividend date is Tuesday, September 8th. Rogers Communication's dividend payout ratio is presently 17.39%.

About Rogers Communication

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Through its wireless and cable businesses, the company provides mobile voice and data services, high-speed internet, television, home phone and related connectivity services to consumers, businesses and public-sector organizations across Canada.

Rogers also operates media and entertainment businesses, including Sportsnet television and digital networks, radio stations and related publishing and digital properties.

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