Rogers Communications Inc. (NYSE:RCI) Shares Purchased by Citigroup Inc.

Citigroup Inc. raised its stake in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 7.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 340,684 shares of the Wireless communications provider's stock after buying an additional 22,660 shares during the period. Citigroup Inc. owned about 0.06% of Rogers Communications worth $13,714,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Grove Bank & Trust raised its holdings in Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider's stock valued at $42,000 after acquiring an additional 302 shares during the period. Creative Planning lifted its holdings in Rogers Communications by 2.2% in the 3rd quarter. Creative Planning now owns 22,282 shares of the Wireless communications provider's stock worth $896,000 after purchasing an additional 486 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Rogers Communications by 110.1% in the 2nd 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 period. First Affirmative Financial Network grew its holdings in Rogers Communications by 11.2% during the 2nd quarter. First Affirmative Financial Network now owns 6,450 shares of the Wireless communications provider's stock valued at $239,000 after buying an additional 649 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Rogers Communications by 11.1% during the third quarter. Signaturefd LLC now owns 6,627 shares of the Wireless communications provider's stock worth $266,000 after acquiring an additional 664 shares during the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Price Performance

RCI traded up $0.23 during trading on Friday, hitting $35.75. The company's stock had a trading volume of 299,936 shares, compared to its average volume of 764,833. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The firm has a market capitalization of $19.10 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 1.10 and a beta of 0.69. Rogers Communications Inc. has a twelve month low of $34.95 and a twelve month high of $48.19. The business's fifty day simple moving average is $37.61 and its 200 day simple moving average is $38.46.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.35. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. Rogers Communications's revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. On average, equities research analysts forecast that Rogers Communications Inc. will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Monday, December 9th. Rogers Communications's dividend payout ratio (DPR) is 72.20%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RCI shares. BMO Capital Markets raised their price objective on Rogers Communications from $67.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, September 19th. TD Securities boosted their price objective on Rogers Communications from $73.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Rogers Communications presently has an average rating of "Moderate Buy" and an average target price of $61.75.

About Rogers Communications

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.