Varma Mutual Pension Insurance Co Sells 207,300 Shares of Rogers Communication, Inc. $RCI

Key Points

• Varma Mutual Pension Insurance Co. cut its stake in Rogers by 46.9%, selling 207,300 shares in Q4 and now holds 234,900 shares worth about $8.88 million.
• Analysts' consensus rating is a Hold with a consensus price target of $36.00; ratings are split (4 Buy, 4 Hold, 1 Sell).
• Rogers declared a quarterly dividend of $0.50 (annualized $2.00), implying a yield of about 5.5%; the ex-dividend date is June 9 and payable on July 6.

Varma Mutual Pension Insurance Co cut its position in Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 46.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 234,900 shares of the Wireless communications provider's stock after selling 207,300 shares during the quarter. Varma Mutual Pension Insurance Co's holdings in Rogers Communication were worth $8,878,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of Rogers Communication by 107.4% during the fourth quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider's stock worth $30,000 after purchasing an additional 407 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Rogers Communication by 143.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider's stock valued at $49,000 after acquiring an additional 978 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Rogers Communication in the 3rd quarter valued at $58,000. EverSource Wealth Advisors LLC increased its holdings in Rogers Communication by 52.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider's stock worth $59,000 after buying an additional 683 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in Rogers Communication during the 3rd quarter worth about $63,000. 45.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RCI has been the topic of several analyst reports. TD Securities lowered shares of Rogers Communication from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. TD Cowen reissued a "buy" rating on shares of Rogers Communication in a report on Friday, January 30th. Scotiabank raised shares of Rogers Communication from a "hold" rating to an "outperform" rating in a research note on Thursday, April 23rd. Barclays reissued a "positive" rating and issued a $37.00 price target on shares of Rogers Communication in a report on Tuesday, January 27th. Finally, Desjardins restated a "hold" rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $36.00.

Rogers Communication Price Performance

NYSE:RCI opened at $36.61 on Wednesday. Rogers Communication, Inc. has a 12 month low of $24.80 and a 12 month high of $41.14. The stock has a 50 day moving average of $37.21 and a two-hundred day moving average of $37.44. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The firm has a market cap of $19.78 billion, a P/E ratio of 3.86, a price-to-earnings-growth ratio of 3.16 and a beta of 0.61.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The company had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $5.44 billion. During the same quarter in the previous year, the company posted $0.99 EPS. The firm's quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts expect that Rogers Communication, Inc. will post 3.55 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be given a $0.50 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.5%. Rogers Communication's dividend payout ratio is 15.51%.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.

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