Rogers Communication, Inc. $RCI Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG cut its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 76.2% during the fourth quarter, HoldingsChannel.com reports. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of RCI. Van ECK Associates Corp raised its position in Rogers Communication by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 5,889 shares of the Wireless communications provider’s stock valued at $203,000 after purchasing an additional 334 shares during the last quarter. Gold Investment Management Ltd. grew its position in 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 worth $1,007,000 after purchasing an additional 590 shares during 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 purchasing an additional 640 shares during the period. EverSource Wealth Advisors LLC increased its stake 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 valued at $59,000 after purchasing an additional 683 shares during the period. Finally, Cerity Partners LLC raised its holdings in shares of Rogers Communication by 7.0% in the second quarter. Cerity Partners LLC now owns 11,007 shares of the Wireless communications provider’s stock valued at $326,000 after buying an additional 724 shares during the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. TD Securities downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research note on Thursday. TD Cowen reaffirmed a “buy” rating on shares of Rogers Communication in a research report on Friday, January 30th. Scotiabank reiterated a “sector perform” rating on shares of Rogers Communication in a research note on Monday, January 12th. Finally, Desjardins lowered Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Stock Performance

Shares of RCI opened at $35.06 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.48. Rogers Communication, Inc. has a 52-week low of $23.18 and a 52-week high of $41.14. The company has a 50-day simple moving average of $38.47 and a 200-day simple moving average of $37.56. The company has a market capitalization of $18.94 billion, a PE ratio of 3.79, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. Equities research analysts predict that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

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

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.