Russell Investments Group Ltd. lessened its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 88.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,577 shares of the Wireless communications provider’s stock after selling 320,351 shares during the period. Russell Investments Group Ltd.’s holdings in Rogers Communications were worth $2,066,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the business. M&G Investment Management Ltd. acquired a new stake in shares of Rogers Communications during the fourth quarter worth $10,198,000. Monarch Capital Management Inc. boosted its position in shares of Rogers Communications by 8.2% during the fourth quarter. Monarch Capital Management Inc. now owns 22,265 shares of the Wireless communications provider’s stock worth $1,106,000 after buying an additional 1,690 shares during the period. TRUE Private Wealth Advisors bought a new position in shares of Rogers Communications during the fourth quarter worth about $27,000. Lester Murray Antman dba SimplyRich bought a new position in shares of Rogers Communications during the fourth quarter worth about $221,000. Finally, Cascade Investment Advisors Inc. grew its holdings in shares of Rogers Communications by 3.1% during the fourth quarter. Cascade Investment Advisors Inc. now owns 23,090 shares of the Wireless communications provider’s stock worth $1,147,000 after buying an additional 700 shares in the last quarter. 42.87% of the stock is owned by hedge funds and other institutional investors.
RCI has been the subject of a number of recent research reports. Royal Bank of Canada raised shares of Rogers Communications from a “sector perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research note on Thursday, October 24th. Canaccord Genuity restated a “hold” rating and set a $66.00 target price on shares of Rogers Communications in a report on Thursday, January 23rd. ValuEngine raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. UBS Group reaffirmed a “hold” rating and issued a $67.00 target price on shares of Rogers Communications in a research report on Thursday, January 23rd. Finally, CIBC reiterated a “hold” rating and issued a $68.00 price target on shares of Rogers Communications in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $67.00.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, January 22nd. The Wireless communications provider reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.22. Rogers Communications had a net margin of 13.55% and a return on equity of 23.66%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period in the prior year, the firm posted $1.13 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year. On average, equities analysts predict that Rogers Communications Inc. will post 3.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 10th will be issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.10%. This is a boost from Rogers Communications’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, March 9th. Rogers Communications’s dividend payout ratio is presently 48.24%.
Rogers Communications Profile
Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.
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