The Manufacturers Life Insurance Company Cuts Stock Holdings in SJW Group (NYSE:SJW)

The Manufacturers Life Insurance Company cut its stake in shares of SJW Group (NYSE:SJW) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,340 shares of the utilities provider’s stock after selling 297 shares during the period. The Manufacturers Life Insurance Company owned about 0.05% of SJW Group worth $1,008,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its position in SJW Group by 26.7% in the second quarter. Assenagon Asset Management S.A. now owns 164,099 shares of the utilities provider’s stock worth $8,897,000 after purchasing an additional 34,607 shares during the last quarter. Nuance Investments LLC grew its position in shares of SJW Group by 17.5% during the 2nd quarter. Nuance Investments LLC now owns 1,565,428 shares of the utilities provider’s stock valued at $84,877,000 after acquiring an additional 233,601 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of SJW Group by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 369,967 shares of the utilities provider’s stock worth $21,499,000 after purchasing an additional 20,646 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in SJW Group in the third quarter valued at approximately $620,000. Finally, Quest Partners LLC purchased a new position in SJW Group in the second quarter valued at approximately $635,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Analysts Set New Price Targets

SJW has been the topic of several research reports. Wells Fargo & Company lowered their price target on shares of 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. Bank of America initiated coverage on SJW Group in a research note on Friday, September 20th. They issued a “neutral” rating and a $65.00 target price for the company. Finally, StockNews.com lowered shares of SJW Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th.

SJW Group Stock Performance

NYSE:SJW opened at $53.55 on Friday. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 3.18 and a beta of 0.62. The business has a 50 day moving average of $55.93 and a 200 day moving average of $56.65. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.77. SJW Group has a 1-year low of $51.17 and a 1-year high of $70.43.

SJW Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Monday, November 4th. SJW Group’s payout ratio is 57.97%.

SJW Group Company 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.