Principal Financial Group Inc. Reduces Stock Position in SJW Group (NYSE:SJW)

Principal Financial Group Inc. reduced its position in SJW Group (NYSE:SJW) by 12.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,552 shares of the utilities provider’s stock after selling 19,352 shares during the period. Principal Financial Group Inc. owned approximately 0.43% of SJW Group worth $8,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. CWM LLC raised its position in SJW Group by 184.2% in the second quarter. CWM LLC now owns 520 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 337 shares during the period. Chris Bulman Inc bought a new stake in SJW Group in the 2nd quarter worth approximately $30,000. nVerses Capital LLC bought a new position in shares of SJW Group during the 3rd quarter valued at approximately $46,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of SJW Group by 576.5% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 761 shares during the last quarter. Finally, US Bancorp DE grew its position in SJW Group by 53.8% in the third quarter. US Bancorp DE now owns 1,255 shares of the utilities provider’s stock worth $73,000 after acquiring an additional 439 shares in the last quarter. Institutional investors own 84.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SJW has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price objective on SJW Group from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. StockNews.com downgraded SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Finally, Bank of America assumed coverage on shares of SJW Group in a research report on Friday, September 20th. They set a “neutral” rating and a $65.00 target price on the stock.

SJW Group Trading Up 0.6 %

Shares of NYSE SJW opened at $55.15 on Wednesday. SJW Group has a 1-year low of $51.17 and a 1-year high of $70.43. The stock has a market capitalization of $1.80 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 3.29 and a beta of 0.63. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.77. The business has a fifty day moving average price of $57.35 and a 200 day moving average price of $57.05.

SJW Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.90%. SJW Group’s payout ratio is 57.97%.

SJW Group Profile

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.