ING Groep NV Sells 71,824 Shares of Rogers Communications Inc. (NYSE:RCI)

ING Groep NV decreased its position in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 66.1% during the 1st quarter, HoldingsChannel reports. The fund owned 36,758 shares of the Wireless communications provider’s stock after selling 71,824 shares during the quarter. ING Groep NV’s holdings in Rogers Communications were worth $1,695,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. bought a new stake in Rogers Communications in the 1st quarter valued at approximately $46,000. Tompkins Financial Corp acquired a new position in shares of Rogers Communications during the 4th quarter worth approximately $50,000. Signaturefd LLC increased its position in shares of Rogers Communications by 16.0% during the 4th quarter. Signaturefd LLC now owns 1,676 shares of the Wireless communications provider’s stock worth $78,000 after purchasing an additional 231 shares during the last quarter. McIlrath & Eck LLC increased its position in shares of Rogers Communications by 76.0% during the 4th quarter. McIlrath & Eck LLC now owns 1,730 shares of the Wireless communications provider’s stock worth $81,000 after purchasing an additional 747 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Rogers Communications by 22.8% during the 4th quarter. Van ECK Associates Corp now owns 3,390 shares of the Wireless communications provider’s stock worth $158,000 after purchasing an additional 630 shares during the last quarter. Hedge funds and other institutional investors own 47.87% of the company’s stock.

Shares of NYSE RCI opened at $51.63 on Friday. The firm has a fifty day moving average price of $50.00. The firm has a market cap of $26.07 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 2.23 and a beta of 0.49. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 1.56. Rogers Communications Inc. has a one year low of $37.84 and a one year high of $52.93.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Tuesday, April 20th. The Wireless communications provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.25. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.33 billion. Rogers Communications had a return on equity of 17.83% and a net margin of 11.46%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. As a group, research analysts expect that Rogers Communications Inc. will post 3.05 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 2nd. Investors of record on Thursday, June 10th will be given a dividend of $0.3981 per share. This is an increase from Rogers Communications’s previous quarterly dividend of $0.39. This represents a $1.59 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Wednesday, June 9th. Rogers Communications’s dividend payout ratio is currently 44.49%.

Several research analysts have weighed in on RCI shares. Royal Bank of Canada boosted their price target on Rogers Communications from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, April 22nd. Scotiabank boosted their target price on Rogers Communications from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, April 19th. Canaccord Genuity decreased their target price on Rogers Communications from $72.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, April 22nd. Desjardins boosted their target price on Rogers Communications from $74.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, April 23rd. Finally, National Bank Financial reissued an “outperform” rating on shares of Rogers Communications in a report on Thursday, April 22nd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Rogers Communications has a consensus rating of “Buy” and a consensus price target of $71.50.

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 and accessory financing, wireless home phone, device protection, text messaging, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 10.9 million subscribers.

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Institutional Ownership by Quarter for Rogers Communications (NYSE:RCI)

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