Munich Reinsurance Co Stock Corp in Munich trimmed its stake in Rogers Communication, Inc. (NYSE:RCI – Free Report) (TSE:RCI.B) by 97.9% in the first quarter, Holdings Channel.com reports. The firm owned 3,576 shares of the Wireless communications provider’s stock after selling 165,318 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Rogers Communication were worth $137,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in shares of Rogers Communication by 52.3% in the 2nd quarter. Invesco Ltd. now owns 934,712 shares of the Wireless communications provider’s stock valued at $27,724,000 after purchasing an additional 321,124 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Rogers Communication by 52.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after buying an additional 683 shares during the last quarter. Marshall Wace LLP raised its position in shares of Rogers Communication by 36.5% in the 2nd quarter. Marshall Wace LLP now owns 37,179 shares of the Wireless communications provider’s stock worth $1,103,000 after buying an additional 9,951 shares during the period. Cerity Partners LLC raised its position in shares of Rogers Communication by 7.0% in the 2nd quarter. Cerity Partners LLC now owns 11,007 shares of the Wireless communications provider’s stock worth $326,000 after buying an additional 724 shares during the period. Finally, AXA S.A. boosted its holdings in Rogers Communication by 231.1% in the second quarter. AXA S.A. now owns 49,945 shares of the Wireless communications provider’s stock valued at $1,481,000 after acquiring an additional 34,860 shares during the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.
Rogers Communication Stock Performance
Shares of RCI stock opened at $32.83 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.55 and a quick ratio of 0.53. The company’s fifty day moving average price is $36.17 and its two-hundred day moving average price is $36.85. The firm has a market capitalization of $17.74 billion, a P/E ratio of 3.46, a P/E/G ratio of 3.97 and a beta of 0.64. Rogers Communication, Inc. has a 12 month low of $31.38 and a 12 month high of $41.14.
Rogers Communication Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 9th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $2.00 dividend on an annualized basis and a yield of 6.1%. Rogers Communication’s dividend payout ratio is currently 15.30%.
Wall Street Analyst Weigh In
A number of research firms have issued reports on RCI. TD Securities downgraded Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Desjardins restated a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rogers Communication in a research note on Wednesday, June 17th. Finally, Scotiabank reiterated an “outperform” rating on shares of Rogers Communication in a report on Tuesday. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Rogers Communication has a consensus rating of “Hold” and a consensus price target of $36.00.
Check Out Our Latest Stock Report on Rogers Communication
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.
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