Jennison Associates LLC Raises Holdings in SJW Group (NYSE:SJW)

Jennison Associates LLC boosted its stake in shares of SJW Group (NYSE:SJW) by 2.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,139 shares of the utilities provider’s stock after acquiring an additional 377 shares during the quarter. Jennison Associates LLC’s holdings in SJW Group were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its holdings in SJW Group by 130.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,206 shares of the utilities provider’s stock valued at $193,000 after acquiring an additional 1,814 shares during the period. TIAA Trust National Association purchased a new stake in SJW Group in the 3rd quarter worth approximately $246,000. IFM Investors Pty Ltd lifted its holdings in SJW Group by 11.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 4,253 shares of the utilities provider’s stock worth $256,000 after buying an additional 449 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in SJW Group in the 3rd quarter worth approximately $292,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in SJW Group by 26.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,286 shares of the utilities provider’s stock worth $318,000 after buying an additional 1,090 shares during the period. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

SJW Group Stock Down 2.4 %

Shares of NYSE:SJW opened at $53.50 on Friday. SJW Group has a 52-week low of $51.37 and a 52-week high of $78.42. The firm has a market capitalization of $1.72 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.59 and a beta of 0.58. The stock has a 50 day moving average price of $55.82 and a 200-day moving average price of $60.54. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.58 and a current ratio of 0.58.

SJW Group (NYSE:SJW) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). SJW Group had a return on equity of 7.03% and a net margin of 12.48%. The firm had revenue of $171.34 million during the quarter, compared to the consensus estimate of $161.23 million. During the same period in the prior year, the company posted $1.09 EPS. As a group, equities research analysts anticipate that SJW Group will post 2.75 EPS for the current fiscal year.

SJW Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 6th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, May 3rd. SJW Group’s dividend payout ratio is currently 60.15%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their price objective on SJW Group from $61.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. StockNews.com upgraded SJW Group from a “sell” rating to a “hold” rating in a report on Friday. Finally, Seaport Res Ptn upgraded SJW Group from a “neutral” rating to a “buy” rating in a report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $66.00.

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.