Bank of New York Mellon Corp Buys 19,136 Shares of SJW Group (NYSE:SJW)

Bank of New York Mellon Corp lifted its stake in shares of SJW Group (NYSE:SJW - Free Report) by 6.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,589 shares of the utilities provider's stock after purchasing an additional 19,136 shares during the quarter. Bank of New York Mellon Corp owned about 1.00% of SJW Group worth $16,124,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its position in shares of SJW Group by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 17,198 shares of the utilities provider's stock worth $846,000 after purchasing an additional 210 shares in the last quarter. Point72 DIFC Ltd boosted its position in shares of SJW Group by 81.4% during the 3rd quarter. Point72 DIFC Ltd now owns 704 shares of the utilities provider's stock worth $41,000 after purchasing an additional 316 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of SJW Group by 1.9% during the 4th quarter. Vontobel Holding Ltd. now owns 18,930 shares of the utilities provider's stock worth $932,000 after purchasing an additional 349 shares in the last quarter. US Bancorp DE boosted its position in shares of SJW Group by 53.8% during the 3rd quarter. US Bancorp DE now owns 1,255 shares of the utilities provider's stock worth $73,000 after purchasing an additional 439 shares in the last quarter. Finally, Canvas Wealth Advisors LLC boosted its position in shares of SJW Group by 8.4% during the 4th quarter. Canvas Wealth Advisors LLC now owns 7,038 shares of the utilities provider's stock worth $346,000 after purchasing an additional 546 shares in the last quarter. Institutional investors own 84.29% of the company's stock.

SJW Group Price Performance

Shares of NYSE SJW opened at $54.88 on Wednesday. SJW Group has a fifty-two week low of $44.91 and a fifty-two week high of $62.18. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 3.94 and a beta of 0.58. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.77 and a current ratio of 0.77. The firm's 50-day simple moving average is $50.56 and its 200 day simple moving average is $54.14.

SJW Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were given a dividend of $0.42 per share. The ex-dividend date was Monday, February 10th. This represents a $1.68 annualized dividend and a dividend yield of 3.06%. This is a boost from SJW Group's previous quarterly dividend of $0.40. SJW Group's dividend payout ratio (DPR) is currently 58.95%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SJW shares. StockNews.com raised shares of SJW Group from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Bank of America raised shares of SJW Group from a "neutral" rating to a "buy" rating and dropped their price target for the company from $59.00 to $55.00 in a research report on Monday, February 3rd. Finally, Wells Fargo & Company raised their price target on shares of SJW Group from $53.00 to $57.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th.

Remove Ads

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.

Want to see what other hedge funds are holding SJW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SJW Group (NYSE:SJW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.