Rogers Communications Inc. (NYSE:RCI) Shares Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. increased its position in shares of Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 22.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,544,016 shares of the Wireless communications provider's stock after acquiring an additional 660,486 shares during the period. Goldman Sachs Group Inc. owned approximately 0.67% of Rogers Communications worth $165,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RCI. Fifth Third Bancorp increased its holdings in 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 period. Lindbrook Capital LLC increased its holdings in shares of Rogers Communications by 120.8% in the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider's stock worth $43,000 after buying an additional 499 shares during the last quarter. CVA Family Office LLC bought a new position in shares of Rogers Communications in the 4th quarter worth $51,000. EverSource Wealth Advisors LLC increased its holdings in shares of 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 buying an additional 745 shares during the last quarter. Finally, Tacita Capital Inc increased its holdings in shares of 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 buying an additional 770 shares during the last quarter. Institutional investors own 45.49% of the company's stock.

Wall Street Analysts Forecast Growth

RCI has been the topic of several recent research reports. Barclays reduced their target price on shares of Rogers Communications from $52.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, April 10th. StockNews.com lowered shares of Rogers Communications from a "hold" rating to a "sell" rating in a report on Saturday. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $46.00.

Rogers Communications Trading Down 0.4 %

RCI traded down $0.16 during trading on Friday, hitting $37.81. 739,517 shares of the stock traded hands, compared to its average volume of 1,051,296. The firm has a market capitalization of $20.04 billion, a P/E ratio of 47.26, a price-to-earnings-growth ratio of 1.01 and a beta of 0.68. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.72. The firm has a 50-day moving average of $38.94 and a 200 day moving average of $42.90. Rogers Communications Inc. has a 12-month low of $36.55 and a 12-month high of $48.19.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.64 billion. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. Equities research analysts anticipate that Rogers Communications Inc. will post 3.64 EPS for the current year.

Rogers Communications Cuts Dividend

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

Rogers Communications 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.