Virginia Retirement Systems ET AL Acquires 150,000 Shares of Rogers Communications Inc. (NYSE:RCI)

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Virginia Retirement Systems ET AL grew its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 134.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,800 shares of the Wireless communications provider’s stock after buying an additional 150,000 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Rogers Communications were worth $12,760,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Beutel Goodman & Co Ltd. grew its stake in Rogers Communications by 99.8% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 40,532,676 shares of the Wireless communications provider’s stock valued at $2,174,759,000 after buying an additional 20,241,073 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Rogers Communications during the 2nd quarter worth approximately $265,009,000. USS Investment Management Ltd lifted its holdings in shares of Rogers Communications by 70.8% during the 2nd quarter. USS Investment Management Ltd now owns 4,799,219 shares of the Wireless communications provider’s stock worth $256,219,000 after acquiring an additional 1,989,592 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Rogers Communications by 402.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,202,595 shares of the Wireless communications provider’s stock worth $63,835,000 after acquiring an additional 963,247 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in shares of Rogers Communications by 56.1% during the 2nd quarter. CIBC Asset Management Inc now owns 2,535,415 shares of the Wireless communications provider’s stock worth $135,718,000 after acquiring an additional 910,726 shares during the period. 43.25% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently weighed in on RCI. TD Securities raised shares of Rogers Communications to a “buy” rating in a report on Monday. Echelon Wealth Partners raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Zacks Investment Research downgraded shares of Rogers Communications from a “hold” rating to a “sell” rating and set a $52.00 price target for the company. in a report on Tuesday, September 24th. ValuEngine downgraded shares of Rogers Communications from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Finally, BMO Capital Markets cut their price target on shares of Rogers Communications from $81.00 to $79.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Rogers Communications has a consensus rating of “Hold” and an average price target of $59.18.

NYSE:RCI traded down $3.41 on Wednesday, hitting $47.32. The company had a trading volume of 914,996 shares, compared to its average volume of 549,374. The stock has a market capitalization of $25.94 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 3.37 and a beta of 0.52. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.94. The firm has a 50 day moving average of $49.50 and a two-hundred day moving average of $51.52. Rogers Communications Inc. has a 52 week low of $47.62 and a 52 week high of $55.93.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Tuesday, July 23rd. The Wireless communications provider reported $0.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.02). The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.87 billion. Rogers Communications had a net margin of 13.79% and a return on equity of 26.66%. Rogers Communications’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.07 EPS. As a group, equities analysts forecast that Rogers Communications Inc. will post 3.37 EPS for the current year.

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 Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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

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