Rogers Communications Inc. (NYSE:RCI) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lessened its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 30.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,050,796 shares of the Wireless communications provider's stock after selling 1,785,000 shares during the period. National Bank of Canada FI owned 0.77% of Rogers Communications worth $188,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp increased its holdings in shares of Rogers Communications by 120.1% in the 4th quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider's stock valued at $31,000 after acquiring an additional 359 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Rogers Communications by 62.8% during the third quarter. EverSource Wealth Advisors LLC now owns 700 shares of the Wireless communications provider's stock worth $27,000 after buying an additional 270 shares during the period. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Rogers Communications during the third quarter worth about $29,000. Lindbrook Capital LLC increased its position in Rogers Communications by 120.8% in the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider's stock valued at $43,000 after acquiring an additional 499 shares during the period. Finally, CVA Family Office LLC acquired a new position in Rogers Communications in the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 45.49% of the company's stock.

Rogers Communications Stock Performance

RCI traded up $0.52 during trading on Friday, reaching $38.43. The company's stock had a trading volume of 805,862 shares, compared to its average volume of 945,229. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.72 and a current ratio of 0.77. The company's fifty day moving average price is $40.90 and its 200-day moving average price is $43.07. Rogers Communications Inc. has a 52-week low of $36.55 and a 52-week high of $49.60. The company has a market capitalization of $20.31 billion, a price-to-earnings ratio of 48.04, a price-to-earnings-growth ratio of 1.01 and a beta of 0.62.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.01. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. On average, equities analysts forecast that Rogers Communications Inc. will post 3.64 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.3658 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.81%. Rogers Communications's dividend payout ratio (DPR) is presently 183.75%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RCI. Barclays lowered their target price on Rogers Communications from $52.00 to $46.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 10th. StockNews.com lowered shares of Rogers Communications from a "hold" rating to a "sell" rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $46.00.

Rogers Communications Company 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.