Rogers Communication, Inc. $RCI Shares Purchased by Legal & General Group Plc

Legal & General Group Plc increased its stake in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 14.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,534,601 shares of the Wireless communications provider’s stock after buying an additional 196,258 shares during the quarter. Legal & General Group Plc’s holdings in Rogers Communication were worth $45,428,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in RCI. SBI Securities Co. Ltd. raised its holdings in shares of Rogers Communication by 106.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,951 shares of the Wireless communications provider’s stock worth $58,000 after acquiring an additional 1,005 shares during the period. MAI Capital Management increased its position in Rogers Communication by 30.5% during the second quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock worth $58,000 after purchasing an additional 458 shares during the last quarter. Parallel Advisors LLC raised its stake in Rogers Communication by 176.9% during the second quarter. Parallel Advisors LLC now owns 2,891 shares of the Wireless communications provider’s stock worth $86,000 after purchasing an additional 1,847 shares during the period. CWM LLC boosted its holdings in Rogers Communication by 57.4% in the 1st quarter. CWM LLC now owns 3,736 shares of the Wireless communications provider’s stock valued at $100,000 after purchasing an additional 1,363 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Rogers Communication by 48.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,231 shares of the Wireless communications provider’s stock valued at $113,000 after buying an additional 1,389 shares during the period. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Trading Up 1.8%

RCI opened at $39.16 on Thursday. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $40.26. The business has a fifty day simple moving average of $37.18 and a 200-day simple moving average of $33.47. The firm has a market cap of $21.16 billion, a P/E ratio of 4.35, a P/E/G ratio of 3.29 and a beta of 0.81. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 1.55.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, October 23rd. The Wireless communications provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. Rogers Communication had a return on equity of 17.14% and a net margin of 32.49%.The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same period in the previous year, the firm posted $1.42 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts expect that Rogers Communication, Inc. will post 3.57 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a research report on Monday, October 20th. Cowen restated a “buy” rating on shares of Rogers Communication in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rogers Communication in a research note on Wednesday, October 8th. Finally, Barclays raised their price objective on Rogers Communication from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $36.00.

About Rogers Communication

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.