Citigroup Inc. Purchases 57,159 Shares of Rogers Communication, Inc. $RCI

Citigroup Inc. increased its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 16.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 395,919 shares of the Wireless communications provider’s stock after purchasing an additional 57,159 shares during the period. Citigroup Inc. owned about 0.07% of Rogers Communication worth $13,633,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. MAI Capital Management boosted its stake in Rogers Communication by 30.5% during the second quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock worth $58,000 after buying an additional 458 shares in the last quarter. Gold Investment Management Ltd. boosted its position in shares of Rogers Communication by 2.1% during the 3rd quarter. Gold Investment Management Ltd. now owns 29,233 shares of the Wireless communications provider’s stock valued at $1,007,000 after acquiring an additional 590 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Rogers Communication by 1.8% in the second quarter. Public Sector Pension Investment Board now owns 37,181 shares of the Wireless communications provider’s stock valued at $1,101,000 after acquiring an additional 640 shares during the period. EverSource Wealth Advisors LLC raised its position in Rogers Communication by 52.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after purchasing an additional 683 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in Rogers Communication by 7.0% during the second quarter. Cerity Partners LLC now owns 11,007 shares of the Wireless communications provider’s stock worth $326,000 after purchasing an additional 724 shares during the period. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communication Price Performance

Shares of RCI stock opened at $39.87 on Friday. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $40.26. The stock has a market capitalization of $21.54 billion, a PE ratio of 4.31, a PEG ratio of 5.21 and a beta of 0.74. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.57 and a current ratio of 0.61. The stock’s fifty day moving average is $37.39 and its 200-day moving average is $36.95.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.10. The business had revenue of $4.49 billion for 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%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. Equities research analysts expect that Rogers Communication, Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communication Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, March 10th. Rogers Communication’s dividend payout ratio is 15.46%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Wall Street Zen cut Rogers Communication from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of Rogers Communication in a report on Friday, December 26th. Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a report on Monday, January 12th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. Five 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 currently has a consensus 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.