Forsta AP Fonden Has $2.59 Million Position in Rogers Communications Inc. (NYSE:RCI)

Forsta AP Fonden boosted its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,400 shares of the Wireless communications provider’s stock after buying an additional 2,600 shares during the period. Forsta AP Fonden’s holdings in Rogers Communications were worth $2,593,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cromwell Holdings LLC acquired a new stake in shares of Rogers Communications in the 3rd quarter worth about $31,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Rogers Communications by 110.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after purchasing an additional 522 shares during the last quarter. Grove Bank & Trust lifted its holdings in shares of Rogers Communications by 41.0% in the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after purchasing an additional 302 shares in the last quarter. Nexus Investment Management ULC purchased a new position in shares of Rogers Communications during the third quarter valued at approximately $203,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Rogers Communications during the third quarter valued at approximately $206,000. 45.49% of the stock is owned by institutional investors.

Rogers Communications Price Performance

RCI opened at $27.48 on Friday. Rogers Communications Inc. has a fifty-two week low of $27.45 and a fifty-two week high of $48.08. The firm has a 50-day moving average of $31.35 and a 200 day moving average of $36.12. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The firm has a market cap of $14.69 billion, a P/E ratio of 13.40, a PEG ratio of 1.07 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. On average, research analysts expect that Rogers Communications Inc. will post 3.47 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be given a dividend of $0.347 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.05%. Rogers Communications’s dividend payout ratio is presently 68.78%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RCI. Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Barclays reissued an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Finally, Morgan Stanley started coverage on shares of Rogers Communications in a research report on Monday, December 16th. They issued an “underweight” rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $61.75.

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.