Principal Financial Group Inc. Has $7.23 Million Holdings in SJW Group (NYSE:SJW)

Principal Financial Group Inc. grew its stake in shares of SJW Group (NYSE:SJW - Free Report) by 4.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 146,914 shares of the utilities provider's stock after buying an additional 6,362 shares during the period. Principal Financial Group Inc. owned approximately 0.45% of SJW Group worth $7,231,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SJW. Barclays PLC increased its holdings in SJW Group by 376.0% in the 3rd quarter. Barclays PLC now owns 60,140 shares of the utilities provider's stock valued at $3,495,000 after buying an additional 47,506 shares during the period. Edgestream Partners L.P. increased its stake in SJW Group by 120.1% in the third quarter. Edgestream Partners L.P. now owns 52,072 shares of the utilities provider's stock valued at $3,026,000 after acquiring an additional 28,417 shares during the period. Duff & Phelps Investment Management Co. acquired a new position in SJW Group in the third quarter worth about $1,593,000. Franklin Resources Inc. lifted its stake in SJW Group by 162.6% during the third quarter. Franklin Resources Inc. now owns 42,810 shares of the utilities provider's stock worth $2,504,000 after purchasing an additional 26,505 shares during the period. Finally, FMR LLC boosted its holdings in SJW Group by 37.5% during the third quarter. FMR LLC now owns 92,386 shares of the utilities provider's stock valued at $5,369,000 after purchasing an additional 25,212 shares in the last quarter. Institutional investors own 84.29% of the company's stock.

SJW Group Price Performance

Shares of NYSE:SJW traded up $0.24 during midday trading on Thursday, reaching $54.42. The company's stock had a trading volume of 294,739 shares, compared to its average volume of 287,029. The business's fifty day simple moving average is $50.11 and its 200-day simple moving average is $54.27. 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 fifty-two week low of $44.91 and a fifty-two week high of $62.18. The company has a market capitalization of $1.78 billion, a P/E ratio of 19.72, a P/E/G ratio of 3.94 and a beta of 0.65.

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SJW Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were paid a $0.42 dividend. The ex-dividend date was Monday, February 10th. This is an increase from SJW Group's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.09%. SJW Group's payout ratio is currently 58.95%.

Analyst Ratings Changes

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

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.