Assenagon Asset Management S.A. bought a new position in shares of J2 Global Inc (NASDAQ:JCOM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,932 shares of the technology company’s stock, valued at approximately $1,403,000.
Other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its holdings in J2 Global by 6.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 55,627 shares of the technology company’s stock worth $4,818,000 after buying an additional 3,482 shares in the last quarter. MetLife Investment Advisors LLC lifted its holdings in J2 Global by 2.5% during the 2nd quarter. MetLife Investment Advisors LLC now owns 52,164 shares of the technology company’s stock worth $4,518,000 after buying an additional 1,275 shares in the last quarter. World Asset Management Inc acquired a new stake in J2 Global during the 2nd quarter worth approximately $208,000. Itau Unibanco Holding S.A. acquired a new stake in J2 Global during the 2nd quarter worth approximately $194,000. Finally, Martingale Asset Management L P lifted its holdings in J2 Global by 1.7% during the 2nd quarter. Martingale Asset Management L P now owns 70,415 shares of the technology company’s stock worth $6,099,000 after buying an additional 1,201 shares in the last quarter. Institutional investors own 99.90% of the company’s stock.
In other news, CEO Vivek Shah sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $81.43, for a total value of $244,290.00. Following the sale, the chief executive officer now directly owns 723,830 shares in the company, valued at approximately $58,941,476.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steve P. Dunn sold 1,052 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $83.90, for a total transaction of $88,262.80. Following the completion of the sale, the insider now owns 18,416 shares in the company, valued at $1,545,102.40. The disclosure for this sale can be found here. Insiders sold a total of 12,509 shares of company stock worth $996,327 over the last 90 days. Company insiders own 5.15% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Wedbush reiterated a “buy” rating and set a $95.00 target price on shares of J2 Global in a report on Tuesday. BidaskClub lowered shares of J2 Global from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine lowered shares of J2 Global from a “hold” rating to a “sell” rating in a report on Tuesday. Citigroup reduced their price objective on shares of J2 Global from $88.00 to $86.00 and set a “neutral” rating on the stock in a report on Monday, August 13th. Finally, Robert W. Baird restated a “buy” rating and issued a $92.00 price objective on shares of J2 Global in a report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. J2 Global presently has an average rating of “Hold” and an average price target of $93.25.
Shares of JCOM opened at $74.27 on Friday. J2 Global Inc has a twelve month low of $69.09 and a twelve month high of $91.58. The firm has a market capitalization of $3.69 billion, a PE ratio of 13.73, a PEG ratio of 1.62 and a beta of 0.94. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.98.
J2 Global (NASDAQ:JCOM) last announced its quarterly earnings data on Monday, November 5th. The technology company reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.12. J2 Global had a net margin of 10.86% and a return on equity of 26.81%. The business had revenue of $292.72 million for the quarter, compared to analyst estimates of $295.19 million. Equities analysts expect that J2 Global Inc will post 5.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Monday, November 19th will be issued a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.34%. This is a positive change from J2 Global’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, November 16th. J2 Global’s dividend payout ratio (DPR) is presently 31.42%.
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J2 Global Profile
j2 Global, Inc, together with its subsidiaries, engages in the provision of Internet services worldwide. It operates through two segments, Cloud Services and Digital Media. The Cloud Services segment offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.
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