Swiss National Bank Sells 10,700 Shares of Rogers Communication Inc. (RCI)
Swiss National Bank reduced its stake in Rogers Communication Inc. (NYSE:RCI) (TSE:RCI.B) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,037,800 shares of the company’s stock after selling 10,700 shares during the period. Swiss National Bank owned 0.40% of Rogers Communication worth $86,478,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE raised its position in Rogers Communication by 10.6% in the second quarter. US Bancorp DE now owns 3,212 shares of the company’s stock valued at $129,000 after buying an additional 309 shares in the last quarter. Blue Chip Partners Inc. raised its position in Rogers Communication by 0.9% in the second quarter. Blue Chip Partners Inc. now owns 4,096 shares of the company’s stock valued at $165,000 after buying an additional 35 shares in the last quarter. Yorktown Management & Research Co Inc bought a new position in Rogers Communication during the third quarter valued at approximately $204,000. Stifel Financial Corp raised its position in Rogers Communication by 4.3% in the second quarter. Stifel Financial Corp now owns 5,997 shares of the company’s stock valued at $244,000 after buying an additional 248 shares in the last quarter. Finally, Princeton Alpha Management LP raised its position in Rogers Communication by 33.4% in the second quarter. Princeton Alpha Management LP now owns 6,908 shares of the company’s stock valued at $279,000 after buying an additional 1,731 shares in the last quarter. Institutional investors own 50.67% of the company’s stock.
Shares of Rogers Communication Inc. (NYSE:RCI) opened at 38.97 on Tuesday. Rogers Communication Inc. has a 1-year low of $32.50 and a 1-year high of $45.50. The company has a market cap of $20.06 billion, a P/E ratio of 23.39 and a beta of 0.95. The stock’s 50 day moving average is $39.64 and its 200 day moving average is $41.05.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 12th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $1.92 annualized dividend and a dividend yield of 4.92%. Rogers Communication’s dividend payout ratio (DPR) is presently 86.98%.
Several research firms recently commented on RCI. Scotiabank reiterated an “outperform” rating and issued a $60.00 price target on shares of Rogers Communication in a research report on Tuesday, October 18th. TD Securities upgraded Rogers Communication to a “buy” rating in a research report on Monday, November 14th. Barclays PLC set a $40.00 price target on Rogers Communication and gave the stock a “hold” rating in a research report on Friday, October 14th. RBC Capital Markets reiterated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, October 18th. Finally, Zacks Investment Research lowered Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, October 13th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $50.38.
Rogers Communication Company Profile
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet and telephony services to consumers and businesses. The Company operates through four segments: Wireless, Cable, Business Solutions and Media. Its Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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