Munich Reinsurance Co Stock Corp in Munich Decreases Stock Holdings in Rogers Communication, Inc. $RCI

Munich Reinsurance Co Stock Corp in Munich reduced its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 97.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,576 shares of the Wireless communications provider’s stock after selling 165,318 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Rogers Communication were worth $137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in shares of Rogers Communication by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 5,889 shares of the Wireless communications provider’s stock worth $203,000 after acquiring an additional 334 shares in the last quarter. Monarch Capital Management Inc. increased its stake in Rogers Communication by 0.6% in the 1st quarter. Monarch Capital Management Inc. now owns 59,746 shares of the Wireless communications provider’s stock valued at $2,299,000 after purchasing an additional 360 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in 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 during the last quarter. Orion Porfolio Solutions LLC raised its holdings in Rogers Communication by 6.5% during the fourth quarter. Orion Porfolio Solutions LLC now owns 7,873 shares of the Wireless communications provider’s stock worth $297,000 after purchasing an additional 479 shares during the last quarter. Finally, Gold Investment Management Ltd. boosted its position in Rogers Communication by 1.7% during the fourth quarter. Gold Investment Management Ltd. now owns 29,721 shares of the Wireless communications provider’s stock worth $1,122,000 after purchasing an additional 488 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Rogers Communication in a report on Wednesday, June 17th. Scotiabank reaffirmed an “outperform” rating on shares of Rogers Communication in a research note on Tuesday. Desjardins reiterated a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Finally, TD Securities cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Stock Up 0.2%

Shares of NYSE RCI opened at $32.83 on Friday. Rogers Communication, Inc. has a 1 year low of $31.38 and a 1 year high of $41.14. The firm’s 50 day moving average price is $36.17 and its 200 day moving average price is $36.85. The firm has a market cap of $17.74 billion, a P/E ratio of 3.46, a price-to-earnings-growth ratio of 3.97 and a beta of 0.64. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the previous year, the firm posted $0.99 EPS. Rogers Communication’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Rogers Communication, Inc. will post 3.37 earnings per share for the current year.

Rogers Communication Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 9th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.1%. The ex-dividend date was Tuesday, June 9th. Rogers Communication’s dividend payout ratio is presently 15.30%.

Rogers Communication Company 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.