Citigroup Inc. Has $3.41 Million Position in Shaw Communications Inc. (SJR)
Citigroup Inc. lowered its stake in Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 14.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,346 shares of the company’s stock after selling 26,216 shares during the quarter. Citigroup Inc.’s holdings in Shaw Communications were worth $3,407,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. TD Asset Management Inc. increased its stake in Shaw Communications by 2.4% in the 2nd quarter. TD Asset Management Inc. now owns 14,888,198 shares of the company’s stock worth $324,315,000 after purchasing an additional 342,269 shares in the last quarter. Vanguard Group Inc. increased its stake in Shaw Communications by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 9,610,515 shares of the company’s stock worth $199,130,000 after purchasing an additional 529,715 shares in the last quarter. Mawer Investment Management Ltd. increased its stake in Shaw Communications by 1.4% in the 2nd quarter. Mawer Investment Management Ltd. now owns 9,508,434 shares of the company’s stock worth $207,499,000 after purchasing an additional 133,961 shares in the last quarter. CIBC Asset Management Inc increased its stake in Shaw Communications by 57.1% in the 2nd quarter. CIBC Asset Management Inc now owns 6,970,061 shares of the company’s stock worth $151,878,000 after purchasing an additional 2,533,410 shares in the last quarter. Finally, CIBC World Markets Inc. increased its stake in Shaw Communications by 3.5% in the 2nd quarter. CIBC World Markets Inc. now owns 5,654,025 shares of the company’s stock worth $123,201,000 after purchasing an additional 190,230 shares in the last quarter. 51.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on SJR shares. BidaskClub cut Shaw Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. 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 research report on Tuesday, September 19th. Finally, National Bank Financial lowered Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $27.00.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last announced its quarterly earnings results on Wednesday, June 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.19. Shaw Communications had a return on equity of 9.31% and a net margin of 10.01%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company earned $0.11 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th will be issued a $0.0744 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.89 annualized dividend and a dividend yield of 3.86%. Shaw Communications’s dividend payout ratio (DPR) is currently 118.75%.
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Shaw Communications Company Profile
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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