APG Asset Management N.V. lifted its stake in shares of Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 575,781 shares of the company’s stock after acquiring an additional 20,500 shares during the quarter. APG Asset Management N.V. owned approximately 0.12% of Shaw Communications worth $13,222,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in SJR. Vanguard Group Inc. grew its stake in shares of Shaw Communications by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 9,610,515 shares of the company’s stock valued at $199,130,000 after acquiring an additional 529,715 shares during the period. Morgan Stanley grew its stake in shares of Shaw Communications by 58.9% during the 1st quarter. Morgan Stanley now owns 863,082 shares of the company’s stock valued at $17,883,000 after acquiring an additional 319,998 shares during the period. Bank of America Corp DE grew its stake in shares of Shaw Communications by 22.8% during the 1st quarter. Bank of America Corp DE now owns 773,616 shares of the company’s stock valued at $16,028,000 after acquiring an additional 143,436 shares during the period. Paloma Partners Management Co bought a new position in shares of Shaw Communications during the 1st quarter valued at approximately $586,000. Finally, Credit Suisse AG grew its stake in shares of Shaw Communications by 0.7% during the 1st quarter. Credit Suisse AG now owns 1,062,467 shares of the company’s stock valued at $22,015,000 after acquiring an additional 7,691 shares during the period. Institutional investors own 51.90% of the company’s stock.
Several research analysts have weighed in on SJR shares. BidaskClub downgraded Shaw Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Tuesday, September 19th. Scotiabank downgraded Shaw Communications from an “outperform” rating to a “sector perform” rating in a research note on Thursday, October 12th. Barclays PLC upped their price target on Shaw Communications from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. Finally, TheStreet upgraded Shaw Communications from a “c” rating to a “b-” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Shaw Communications has a consensus rating of “Hold” and a consensus price target of $27.29.
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Thursday, February 15th will be given a $0.0781 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Wednesday, February 14th. Shaw Communications’s dividend payout ratio (DPR) is presently 69.17%.
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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