Rogers Communication, Inc. $RCI Shares Sold by Varma Mutual Pension Insurance Co

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

A number of other large investors have also recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in Rogers Communication by 67.8% during the third quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock worth $167,765,000 after buying an additional 1,966,476 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Rogers Communication by 261.2% in the 3rd quarter. CIBC Asset Management Inc now owns 2,102,076 shares of the Wireless communications provider’s stock worth $72,280,000 after acquiring an additional 1,520,062 shares during the last quarter. Caisse de depot et placement du Quebec acquired a new position in shares of Rogers Communication in the 3rd quarter worth approximately $47,082,000. TD Asset Management Inc lifted its stake in Rogers Communication by 18.0% during the third quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock worth $287,340,000 after purchasing an additional 1,272,065 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Rogers Communication by 390.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,021,444 shares of the Wireless communications provider’s stock worth $35,156,000 after purchasing an additional 813,286 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on RCI shares. Wall Street Zen cut Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Royal Bank Of Canada reissued an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, January 13th. Desjardins reissued a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Barclays reiterated a “positive” rating and issued a $37.00 price objective on shares of Rogers Communication in a research note on Tuesday, January 27th. Finally, TD Securities cut Rogers Communication from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.00.

Rogers Communication Stock Performance

Shares of Rogers Communication stock opened at $36.61 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.55 and a quick ratio of 0.53. The stock has a market capitalization of $19.78 billion, a price-to-earnings ratio of 3.86, a PEG ratio of 3.16 and a beta of 0.61. The firm’s fifty day simple moving average is $37.21 and its 200-day simple moving average is $37.44. Rogers Communication, Inc. has a 12 month low of $24.80 and a 12 month high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released 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 return on equity of 12.11% and a net margin of 32.00%.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 firm posted $0.99 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts forecast that Rogers Communication, Inc. will post 3.55 earnings per share for the current year.

Rogers Communication Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 9th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, June 9th. Rogers Communication’s dividend payout ratio (DPR) is currently 15.51%.

Rogers Communication Profile

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.