Sumitomo Mitsui Trust Holdings Inc. Increases Position in Rogers Communication, Inc. (RCI)
Sumitomo Mitsui Trust Holdings Inc. boosted its position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,154,874 shares of the company’s stock after buying an additional 9,152 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Rogers Communication were worth $49,005,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. US Bancorp DE increased its stake in Rogers Communication by 10.6% in the second quarter. US Bancorp DE now owns 3,212 shares of the company’s stock worth $129,000 after buying an additional 309 shares during the last quarter. Blue Chip Partners Inc. increased its stake in Rogers Communication by 0.9% in the second quarter. Blue Chip Partners Inc. now owns 4,096 shares of the company’s stock worth $165,000 after buying an additional 35 shares during the last quarter. Stifel Financial Corp increased its stake in Rogers Communication by 4.3% in the second quarter. Stifel Financial Corp now owns 5,997 shares of the company’s stock worth $244,000 after buying an additional 248 shares during the last quarter. KCG Holdings Inc. bought a new stake in Rogers Communication during the second quarter worth about $281,000. Finally, Trexquant Investment LP bought a new stake in Rogers Communication during the second quarter worth about $372,000. Institutional investors and hedge funds own 50.63% of the company’s stock.
Rogers Communication, Inc. (NYSE:RCI) opened at 39.00 on Friday. Rogers Communication, Inc. has a 52-week low of $32.50 and a 52-week high of $45.50. The stock’s 50 day moving average is $38.82 and its 200-day moving average is $41.04. The firm has a market capitalization of $20.08 billion, a PE ratio of 22.95 and a beta of 0.92.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Monday, December 12th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date was Thursday, December 8th. Rogers Communication’s dividend payout ratio is presently 84.62%.
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A number of equities research analysts recently issued reports on RCI shares. Zacks Investment Research downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a report on Thursday, October 13th. Barclays PLC set a $40.00 price target on shares of Rogers Communication and gave the company a “hold” rating in a research report on Friday, October 14th. RBC Capital Markets reaffirmed an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, October 18th. TD Securities raised shares of Rogers Communication to a “buy” rating in a research report on Monday, November 14th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $54.00 price target (up from $53.00) on shares of Rogers Communication in a research report on Tuesday, October 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $51.00.
About Rogers Communication
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet and telephony services to consumers and businesses. The Company operates through four segments: Wireless, Cable, Business Solutions and Media. Its Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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