Fisher Asset Management LLC acquired a new stake in SJW Group (NYSE:SJW – Get Rating) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 4,000 shares of the utilities provider’s stock, valued at approximately $278,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Advisor Group Holdings Inc. raised its stake in SJW Group by 55.8% in the first quarter. Advisor Group Holdings Inc. now owns 1,385 shares of the utilities provider’s stock valued at $96,000 after buying an additional 496 shares during the period. Ziegler Capital Management LLC raised its stake in SJW Group by 30.1% in the first quarter. Ziegler Capital Management LLC now owns 15,580 shares of the utilities provider’s stock valued at $1,084,000 after buying an additional 3,602 shares during the period. Victory Capital Management Inc. raised its stake in SJW Group by 71.0% in the first quarter. Victory Capital Management Inc. now owns 246,535 shares of the utilities provider’s stock valued at $14,546,000 after buying an additional 102,350 shares during the period. Clean Yield Group bought a new stake in SJW Group in the first quarter valued at approximately $3,179,000. Finally, Assenagon Asset Management S.A. raised its stake in SJW Group by 182.1% in the first quarter. Assenagon Asset Management S.A. now owns 94,669 shares of the utilities provider’s stock valued at $6,587,000 after buying an additional 61,105 shares during the period. Institutional investors own 77.21% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on SJW. Barclays dropped their price objective on SJW Group from $72.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. TheStreet downgraded SJW Group from a “b-” rating to a “c+” rating in a research report on Thursday, May 19th. JPMorgan Chase & Co. raised SJW Group from a “neutral” rating to an “overweight” rating and set a $67.00 target price on the stock in a research report on Monday, May 2nd. Finally, Wells Fargo & Company downgraded SJW Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $67.00 to $66.00 in a research report on Thursday, June 2nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $66.00.
SJW Group Price Performance
SJW Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 8th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, August 5th. This represents a $1.44 dividend on an annualized basis and a yield of 2.20%. This is an increase from SJW Group’s previous quarterly dividend of $0.19. SJW Group’s dividend payout ratio is currently 82.76%.
SJW Group Company Profile
SJW Group, through its subsidiaries, provides water utility services in the United States. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases; contracted services and sewer operations to water utilities; and a Linebacker protection plan for public drinking water customers in Connecticut and Maine.
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