Rogers Communication, Inc. $RCI Shares Bought by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG grew its position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 361.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,567 shares of the Wireless communications provider’s stock after purchasing an additional 41,967 shares during the period. J. Safra Sarasin Holding AG’s holdings in Rogers Communication were worth $1,844,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Picton Mahoney Asset Management acquired a new stake in Rogers Communication during the 2nd quarter worth approximately $78,714,000. Platinum Investment Management Ltd. acquired a new stake in shares of Rogers Communication in the second quarter worth $77,687,000. CIBC Asset Management Inc raised its stake in shares of Rogers Communication by 261.2% in the 3rd quarter. CIBC Asset Management Inc now owns 2,102,076 shares of the Wireless communications provider’s stock valued at $72,280,000 after acquiring an additional 1,520,062 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Rogers Communication by 15.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 9,603,756 shares of the Wireless communications provider’s stock valued at $284,981,000 after acquiring an additional 1,255,794 shares during the period. Finally, Letko Brosseau & Associates Inc. lifted its holdings in shares of Rogers Communication by 14.8% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 6,753,987 shares of the Wireless communications provider’s stock valued at $199,922,000 after acquiring an additional 868,800 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analysts Set New Price Targets

RCI has been the subject of several recent research reports. Wall Street Zen upgraded Rogers Communication from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Scotiabank reiterated a “sector perform” rating on shares of Rogers Communication in a research note on Monday, January 12th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Rogers Communication in a report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rogers Communication in a research report on Friday, December 26th. Finally, Desjardins downgraded shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Stock Up 0.4%

RCI stock opened at $36.65 on Wednesday. Rogers Communication, Inc. has a twelve month low of $23.18 and a twelve month high of $40.26. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $19.80 billion, a P/E ratio of 4.07, a PEG ratio of 2.75 and a beta of 0.75. The firm has a 50 day simple moving average of $37.17 and a 200-day simple moving average of $36.30.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.