Mn Services Vermogensbeheer B.V. Has $7.66 Million Position in Rogers Communications Inc. (NYSE:RCI)

Mn Services Vermogensbeheer B.V. trimmed its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 162,760 shares of the Wireless communications provider’s stock after selling 6,300 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Rogers Communications were worth $7,657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC increased its position in Rogers Communications by 2,701.9% in the 3rd quarter. Barclays PLC now owns 3,292,839 shares of the Wireless communications provider’s stock valued at $126,411,000 after buying an additional 3,175,319 shares in the last quarter. Morgan Stanley raised its position in shares of Rogers Communications by 36.0% during the third quarter. Morgan Stanley now owns 4,451,922 shares of the Wireless communications provider’s stock worth $170,909,000 after purchasing an additional 1,177,772 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Rogers Communications by 592.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,280,700 shares of the Wireless communications provider’s stock worth $58,472,000 after purchasing an additional 1,095,806 shares in the last quarter. Alliancebernstein L.P. grew its position in Rogers Communications by 452.6% in the 3rd quarter. Alliancebernstein L.P. now owns 1,280,731 shares of the Wireless communications provider’s stock valued at $49,359,000 after purchasing an additional 1,048,976 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its stake in Rogers Communications by 106.9% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 1,939,079 shares of the Wireless communications provider’s stock valued at $89,896,000 after purchasing an additional 1,001,888 shares in the last quarter. 45.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RCI has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. StockNews.com lowered Rogers Communications from a “hold” rating to a “sell” rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rogers Communications presently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

Rogers Communications Price Performance

Rogers Communications stock opened at $37.91 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 3.81. The business’s 50 day simple moving average is $42.98 and its 200 day simple moving average is $43.15. Rogers Communications Inc. has a 12 month low of $36.55 and a 12 month high of $50.00. The company has a market cap of $20.04 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.63 and a beta of 0.59.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, February 1st. The Wireless communications provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.11. Rogers Communications had a return on equity of 22.17% and a net margin of 4.38%. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.99 billion. Sell-side analysts forecast that Rogers Communications Inc. will post 3.6 EPS for the current year.

Rogers Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Monday, March 11th were given a $0.3742 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.50 annualized dividend and a dividend yield of 3.95%. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.36. Rogers Communications’s payout ratio is 122.50%.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.