Goldman Sachs Group Inc. Purchases 660,486 Shares of Rogers Communications Inc. (NYSE:RCI)

Goldman Sachs Group Inc. raised its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 22.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,544,016 shares of the Wireless communications provider’s stock after purchasing an additional 660,486 shares during the period. Goldman Sachs Group Inc. owned 0.67% of Rogers Communications worth $165,895,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in shares of Rogers Communications by 120.1% during the 4th quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock worth $31,000 after acquiring an additional 359 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Rogers Communications by 120.8% during the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock worth $43,000 after acquiring an additional 499 shares during the last quarter. CVA Family Office LLC purchased a new position in Rogers Communications in the 4th quarter worth $51,000. EverSource Wealth Advisors LLC raised its position in Rogers Communications by 106.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,445 shares of the Wireless communications provider’s stock worth $68,000 after purchasing an additional 745 shares during the period. Finally, Tacita Capital Inc raised its position in Rogers Communications by 35.6% in the 3rd quarter. Tacita Capital Inc now owns 2,935 shares of the Wireless communications provider’s stock worth $113,000 after purchasing an additional 770 shares during the period. 45.49% of the stock is owned by institutional investors.

Rogers Communications Trading Down 0.4 %

Shares of RCI stock traded down $0.16 during mid-day trading on Friday, reaching $37.81. The stock had a trading volume of 739,517 shares, compared to its average volume of 1,051,296. The stock’s 50-day moving average price is $38.94 and its two-hundred day moving average price is $42.89. Rogers Communications Inc. has a 52-week low of $36.55 and a 52-week high of $48.19. The firm has a market capitalization of $20.04 billion, a PE ratio of 47.26, a price-to-earnings-growth ratio of 1.01 and a beta of 0.68. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Equities analysts expect that Rogers Communications Inc. will post 3.64 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 10th will be given a dividend of $0.3658 per share. This represents a $1.46 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Monday, June 10th. Rogers Communications’s dividend payout ratio is currently 181.25%.

Wall Street Analysts Forecast Growth

RCI has been the topic of a number of analyst reports. StockNews.com cut shares of Rogers Communications from a “hold” rating to a “sell” rating in a research report on Saturday. Barclays decreased their target price on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.00.

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.