Rogers Communications Inc. (NYSE:RCI) Shares Sold by Korea Investment CORP

Korea Investment CORP decreased its holdings in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 53.7% during the 4th quarter, HoldingsChannel reports. The fund owned 160,945 shares of the Wireless communications provider’s stock after selling 186,500 shares during the quarter. Korea Investment CORP’s holdings in Rogers Communications were worth $4,945,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RCI. Crossmark Global Holdings Inc. raised its position in shares of Rogers Communications by 1.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 23,563 shares of the Wireless communications provider’s stock valued at $725,000 after purchasing an additional 379 shares in the last quarter. Verition Fund Management LLC raised its holdings in Rogers Communications by 7.9% in the third quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider’s stock valued at $301,000 after acquiring an additional 551 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Rogers Communications by 4.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,194 shares of the Wireless communications provider’s stock valued at $436,000 after acquiring an additional 571 shares during the last quarter. Waldron Private Wealth LLC grew its holdings in Rogers Communications by 3.1% during the 4th quarter. Waldron Private Wealth LLC now owns 21,943 shares of the Wireless communications provider’s stock worth $682,000 after acquiring an additional 660 shares in the last quarter. Finally, State Street Corp increased its position in shares of Rogers Communications by 0.5% in the 3rd quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider’s stock worth $5,550,000 after purchasing an additional 661 shares during the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on RCI shares. Morgan Stanley assumed coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. Barclays reiterated an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Bank of America lowered Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $61.75.

Rogers Communications Stock Down 2.1 %

NYSE:RCI opened at $26.71 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The stock has a 50 day moving average of $27.94 and a 200-day moving average of $32.74. The firm has a market capitalization of $14.32 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. Rogers Communications Inc. has a 52 week low of $26.57 and a 52 week high of $41.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. Analysts predict that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be given a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 5.20%. The ex-dividend date is Monday, March 10th. Rogers Communications’s dividend payout ratio (DPR) is 59.48%.

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.