Beutel Goodman & Co LTD Decreased Stake in Rogers Communication (NYSE:RCI) by $39.61 Million as Shares Rose


Beutel Goodman & Co Ltd decreased its stake in Rogers Communication (NYSE:RCI) by 4.25% based on its latest 2016Q2 regulatory filing with the SEC. Beutel Goodman & Co Ltd sold 990,223 shares as the company’s stock rose 16.64% with the market. The institutional investor held 22.32 million shares of the consumer services company at the end of 2016Q2, valued at $894.90 million, down from 23.31M at the end of the previous reported quarter. Beutel Goodman & Co Ltd who had been investing in Rogers Communication for a number of months, seems to be less bullish one the $21.41 billion market cap company. The stock decreased 1.19% or $0.5 during the last trading session, hitting $41.47. About 242,169 shares traded hands. Rogers Communications Inc. (USA) (NYSE:RCI) has risen 24.57% since February 8, 2016 and is uptrending. It has outperformed by 8.08% the S&P500.

Beutel Goodman & Co Ltd, which manages about $36.47 billion and $9.02B US Long portfolio, upped its stake in Agrium Inc (NYSE:AGU) by 796,710 shares to 3.43M shares, valued at $302.83M in 2016Q2, according to the filing.

Beutel Goodman & Co Ltd is a Ontario, Canada-based institutional investor with more than $36.47 billion AUM in March, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Beutel Goodman & Co latest Adv, the fund reported to have 72 full and part-time employees. Among which 19 performing investment advisory and research functions. The institutional investor had more than 700 clients.

The institutional sentiment increased to 1.05 in 2016 Q2. Its up 0.07, from 0.98 in 2016Q1. The ratio increased, as 28 funds sold all RCI shares owned while 71 reduced positions. 19 funds bought stakes while 85 increased positions. They now own 248.51 million shares or 1.61% more from 244.58 million shares in 2016Q1.

Hillsdale Investment Management Inc. holds 3.07% of its portfolio in RCI for 259,420 shares. Scheer Rowlett & Associates Investment Management Ltd. owns 1.20 million shares or 2.85% of their US portfolio. Moreover, Intact Investment Management Inc. has 2.62% invested in the company for 1.24 million shares. The Quebec – Canada-based Letko Brosseau & Associates Inc has invested 2.62% in the stock. Guardian Capital Lp, a Ontario – Canada-based fund reported 2.97 million shares.

Out of 6 analysts covering Rogers Comms (NYSE:RCI), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. Rogers Comms has been the topic of 6 analyst reports since October 9, 2015 according to StockzIntelligence Inc. Morgan Stanley downgraded the stock on December 17 to “Equal-Weight” rating.

Rogers Communications Inc. is a communications and media company. The company has a market cap of $21.41 billion. The Firm provides wireless communications services, and cable television, Internet and telephony services to clients and businesses. It has a 19.89 P/E ratio. The Firm operates through four divisions: Wireless, Cable, Business Solutions and Media.

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