Goldman Sachs Group Inc. Sells 108,896 Shares of Rogers Communication, Inc. $RCI

Goldman Sachs Group Inc. trimmed its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,387,868 shares of the Wireless communications provider’s stock after selling 108,896 shares during the period. Goldman Sachs Group Inc.’s holdings in Rogers Communication were worth $127,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its holdings in Rogers Communication by 2.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 9,886,365 shares of the Wireless communications provider’s stock valued at $340,428,000 after purchasing an additional 282,609 shares during the period. Bank of Nova Scotia lifted its position in shares of Rogers Communication by 2.3% during the third quarter. Bank of Nova Scotia now owns 8,465,953 shares of the Wireless communications provider’s stock worth $291,526,000 after acquiring an additional 186,510 shares in the last quarter. TD Asset Management Inc lifted its position in shares of 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 acquiring an additional 1,272,065 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Rogers Communication by 7.0% during the third quarter. Mackenzie Financial Corp now owns 8,161,532 shares of the Wireless communications provider’s stock worth $280,904,000 after acquiring an additional 536,623 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of 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 acquiring an additional 1,966,476 shares in the last quarter. 45.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on RCI. Scotiabank upgraded Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. TD Securities downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Desjardins restated a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Four investment 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Trading Up 0.4%

Shares of RCI stock opened at $37.79 on Tuesday. 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, Inc. has a 52-week low of $26.30 and a 52-week high of $41.14. The company has a market capitalization of $20.42 billion, a PE ratio of 3.99, a price-to-earnings-growth ratio of 3.31 and a beta of 0.62. The business’s fifty day moving average is $36.03 and its 200 day moving average is $37.22.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $5.44 billion. During the same quarter last year, the business posted $0.99 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Rogers Communication, Inc. will post 3.55 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 9th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.3%. Rogers Communication’s dividend payout ratio is presently 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.