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American Century Companies Inc. Purchases Shares of 311,662 SJW Group (NYSE:SJW)

Defense World ·  Aug 31, 2022 05:11

American Century Companies Inc. acquired a new stake in SJW Group (NYSE:SJW – Get Rating) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 311,662 shares of the utilities provider's stock, valued at approximately $21,686,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of SJW Group by 3.2% in the 1st quarter. Bank of New York Mellon Corp now owns 195,504 shares of the utilities provider's stock valued at $13,603,000 after purchasing an additional 6,063 shares during the period. Raymond James & Associates lifted its position in shares of SJW Group by 0.5% in the first quarter. Raymond James & Associates now owns 222,262 shares of the utilities provider's stock valued at $15,465,000 after buying an additional 1,099 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of SJW Group by 6.5% during the 1st quarter. ProShare Advisors LLC now owns 158,471 shares of the utilities provider's stock worth $11,026,000 after acquiring an additional 9,610 shares during the period. Van ECK Associates Corp increased its holdings in shares of SJW Group by 9.8% during the 1st quarter. Van ECK Associates Corp now owns 5,585 shares of the utilities provider's stock worth $388,000 after acquiring an additional 499 shares during the last quarter. Finally, MQS Management LLC bought a new stake in SJW Group in the 1st quarter valued at $207,000. Institutional investors own 72.05% of the company's stock.

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Analyst Ratings Changes

Several research firms have commented on SJW. Barclays decreased their price objective on shares of SJW Group from $72.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, July 18th. Wells Fargo & Company downgraded shares of SJW Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $67.00 to $66.00 in a report on Thursday, June 2nd. Finally, TheStreet downgraded shares of SJW Group from a "b-" rating to a "c+" rating in a report on Thursday, May 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $66.00.

SJW Group Trading Down 2.3 %

Shares of SJW Group stock opened at $64.39 on Wednesday. The firm has a 50-day moving average of $64.53 and a 200-day moving average of $63.96. The stock has a market cap of $1.95 billion, a PE ratio of 37.01 and a beta of 0.55. SJW Group has a 52-week low of $55.74 and a 52-week high of $73.69. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.50 and a current ratio of 0.50.

SJW Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 8th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Friday, August 5th. This is a boost from SJW Group's previous quarterly dividend of $0.19. SJW Group's payout ratio is presently 82.76%.

About SJW Group

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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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