Swiss National Bank cut its position in shares of Rogers Communication Inc. (NYSE:RCI) (TSE:RCI.B) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,037,800 shares of the company’s stock after selling 10,700 shares during the period. Swiss National Bank’s holdings in Rogers Communication were worth $86,478,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Mackenzie Financial Corp purchased a new stake in Rogers Communication during the second quarter valued at $173,013,000. Emerald Acquisition Ltd. purchased a new stake in Rogers Communication during the second quarter valued at $116,382,000. 1832 Asset Management L.P. boosted its stake in Rogers Communication by 21.8% in the second quarter. 1832 Asset Management L.P. now owns 10,748,669 shares of the company’s stock valued at $683,889,000 after buying an additional 1,922,300 shares during the period. Fiera Capital Corp boosted its stake in Rogers Communication by 795.2% in the second quarter. Fiera Capital Corp now owns 1,118,488 shares of the company’s stock valued at $45,070,000 after buying an additional 993,542 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Rogers Communication by 33.8% in the second quarter. CIBC Asset Management Inc now owns 3,757,964 shares of the company’s stock valued at $151,291,000 after buying an additional 948,316 shares during the period. Institutional investors own 50.67% of the company’s stock.
Rogers Communication Inc. (NYSE:RCI) opened at 38.97 on Tuesday. The firm has a 50-day moving average of $39.64 and a 200 day moving average of $41.05. Rogers Communication Inc. has a 12 month low of $32.50 and a 12 month high of $45.50. The stock has a market cap of $20.06 billion, a PE ratio of 23.39 and a beta of 0.95.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 12th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date is Thursday, December 8th. Rogers Communication’s payout ratio is currently 86.98%.
RCI has been the subject of several analyst reports. Zacks Investment Research cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Thursday, October 13th. Barclays PLC set a $40.00 price objective on shares of Rogers Communication and gave the stock a “hold” rating in a research report on Friday, October 14th. RBC Capital Markets reaffirmed an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, October 18th. TD Securities raised shares of Rogers Communication to a “buy” rating in a research report on Monday, November 14th. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and set a $54.00 price objective (up previously from $53.00) on shares of Rogers Communication in a research report on Tuesday, October 18th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Rogers Communication presently has an average rating of “Hold” and a consensus target price of $50.38.
About Rogers Communication
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.