Legal & General Group Plc Raises Stake in Shaw Communications Inc. (SJR)
Legal & General Group Plc boosted its position in Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,028,364 shares of the company’s stock after buying an additional 35,194 shares during the period. Legal & General Group Plc owned approximately 0.43% of Shaw Communications worth $42,861,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of SJR. Cutler Group LP increased its position in Shaw Communications by 983.3% in the second quarter. Cutler Group LP now owns 6,500 shares of the company’s stock worth $141,000 after buying an additional 5,900 shares during the period. Fort Washington Investment Advisors Inc. OH purchased a new position in Shaw Communications during the first quarter worth about $204,000. Wetherby Asset Management Inc. purchased a new position in Shaw Communications during the first quarter worth about $205,000. US Bancorp DE increased its position in Shaw Communications by 14.6% in the second quarter. US Bancorp DE now owns 9,921 shares of the company’s stock worth $217,000 after buying an additional 1,267 shares during the period. Finally, Greenleaf Trust increased its position in Shaw Communications by 1.7% in the first quarter. Greenleaf Trust now owns 11,228 shares of the company’s stock worth $233,000 after buying an additional 190 shares during the period. Institutional investors and hedge funds own 51.86% of the company’s stock.
Shaw Communications Inc. (NYSE SJR) opened at 22.07 on Wednesday. The stock’s 50 day moving average price is $21.95 and its 200 day moving average price is $21.45. Shaw Communications Inc. has a one year low of $19.02 and a one year high of $23.31. The company has a market capitalization of $10.89 billion, a P/E ratio of 26.75 and a beta of 0.91.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last released its earnings results on Wednesday, June 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.19. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.32 billion. Shaw Communications had a return on equity of 9.31% and a net margin of 10.01%. Shaw Communications’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $0.11 earnings per share. Equities analysts anticipate that Shaw Communications Inc. will post $1.06 EPS for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th will be issued a $0.0744 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.89 dividend on an annualized basis and a yield of 4.05%. Shaw Communications’s dividend payout ratio (DPR) is presently 118.75%.
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SJR has been the subject of a number of research reports. BidaskClub upgraded Shaw Communications from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Thursday, June 15th. Finally, National Bank Financial downgraded Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $27.00.
About Shaw Communications
Shaw Communications Inc (Shaw) is a diversified connectivity provider. The Company operates through four divisions: Consumer, Wireless, Business Network Services and Business Infrastructure Services. Under the Consumer division, the Company offers Cable telecommunications and Satellite video services to residential customers.
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