Victory Capital Management Inc. Sells 15,985 Shares of SJW Group (NYSE:SJW)

Victory Capital Management Inc. cut its position in SJW Group (NYSE:SJW) by 8.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 174,734 shares of the utilities provider’s stock after selling 15,985 shares during the quarter. Victory Capital Management Inc. owned about 0.53% of SJW Group worth $10,154,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nuance Investments LLC lifted 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. Millennium Management LLC lifted its position in shares of SJW Group by 2,491.2% during the 2nd quarter. Millennium Management LLC now owns 113,781 shares of the utilities provider’s stock valued at $6,169,000 after acquiring an additional 109,390 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of SJW Group by 29.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 212,299 shares of the utilities provider’s stock valued at $12,337,000 after acquiring an additional 48,200 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of SJW Group by 144.6% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 64,359 shares of the utilities provider’s stock valued at $3,490,000 after acquiring an additional 38,044 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in shares of SJW Group by 445.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 45,946 shares of the utilities provider’s stock valued at $2,491,000 after acquiring an additional 37,521 shares during the period. 84.29% of the stock is currently owned by institutional investors.

SJW Group Price Performance

SJW Group stock opened at $55.35 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.77 and a current ratio of 0.77. SJW Group has a 52 week low of $51.17 and a 52 week high of $70.43. The stock has a market capitalization of $1.81 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 3.31 and a beta of 0.63. The stock has a fifty day moving average of $57.23 and a 200-day moving average of $57.02.

SJW Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be issued 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 yield of 2.89%. SJW Group’s payout ratio is presently 57.97%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Bank of America assumed coverage on SJW Group in a research report on Friday, September 20th. They set a “neutral” rating and a $65.00 target price for the company. Wells Fargo & Company lowered their price target on SJW Group from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Finally, StockNews.com cut SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th.

About SJW Group

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.