J. Safra Sarasin Holding AG Decreases Stake in Rogers Communication, Inc. $RCI

J. Safra Sarasin Holding AG cut its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 76.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,768 shares of the Wireless communications provider’s stock after selling 40,799 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Rogers Communication were worth $483,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RCI. Bank of America Corp DE raised its holdings in Rogers Communication by 67.8% in the third quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock valued at $167,765,000 after acquiring an additional 1,966,476 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Rogers Communication by 261.2% during 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 in the last quarter. Caisse de depot et placement du Quebec purchased a new stake in shares of Rogers Communication in the 3rd quarter valued at approximately $47,082,000. TD Asset Management Inc increased its position in shares of Rogers Communication by 18.0% in the 3rd quarter. TD Asset Management Inc now owns 8,344,925 shares of the Wireless communications provider’s stock valued at $287,340,000 after purchasing an additional 1,272,065 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Rogers Communication by 390.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,021,444 shares of the Wireless communications provider’s stock valued at $35,156,000 after purchasing an additional 813,286 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Trading Down 8.1%

NYSE RCI opened at $35.06 on Friday. The firm’s fifty day moving average price is $38.47 and its 200 day moving average price is $37.56. Rogers Communication, Inc. has a 12 month low of $23.18 and a 12 month high of $41.14. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.61 and a quick ratio of 0.57. The company has a market capitalization of $18.94 billion, a price-to-earnings ratio of 3.79, a price-to-earnings-growth ratio of 5.06 and a beta of 0.72.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.10. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $5.94 billion. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. Rogers Communication’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 earnings per share. On average, sell-side analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Tuesday, March 10th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.7%. Rogers Communication’s dividend payout ratio is 15.89%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Securities cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday. Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a research note on Monday, January 12th. TD Cowen reaffirmed a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Wall Street Zen downgraded Rogers Communication from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rogers Communication in a research report on Friday, December 26th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.00.

About Rogers Communication

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.