Principal Financial Group Inc. Sells 19,352 Shares of SJW Group (NYSE:SJW)

Principal Financial Group Inc. lessened its holdings in SJW Group (NYSE:SJW - Free Report) by 12.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 140,552 shares of the utilities provider's stock after selling 19,352 shares during the quarter. Principal Financial Group Inc. owned approximately 0.43% of SJW Group worth $8,167,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. SG Americas Securities LLC grew its stake in shares of SJW Group by 87.0% during the 1st quarter. SG Americas Securities LLC now owns 3,608 shares of the utilities provider's stock worth $204,000 after acquiring an additional 1,679 shares in the last quarter. Swiss National Bank raised its stake in SJW Group by 0.7% during the first quarter. Swiss National Bank now owns 59,900 shares of the utilities provider's stock worth $3,390,000 after acquiring an additional 400 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of SJW Group by 133.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,303 shares of the utilities provider's stock worth $1,206,000 after acquiring an additional 12,182 shares during the last quarter. UniSuper Management Pty Ltd bought a new position in shares of SJW Group in the first quarter worth about $475,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of SJW Group by 7.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 62,027 shares of the utilities provider's stock valued at $3,512,000 after buying an additional 4,549 shares during the period. Institutional investors own 84.29% of the company's stock.

SJW Group Trading Down 0.3 %

SJW stock traded down $0.15 during midday trading on Wednesday, hitting $55.00. The company had a trading volume of 47,780 shares, compared to its average volume of 187,971. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.25. SJW Group has a 52 week low of $51.17 and a 52 week high of $70.43. The stock's 50 day moving average price is $57.35 and its 200 day moving average price is $57.05. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 3.29 and a beta of 0.63.

SJW Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Monday, November 4th. SJW Group's payout ratio is currently 57.97%.

Analysts Set New Price Targets

SJW has been the subject of several recent research reports. Bank of America started coverage on SJW Group in a research note on Friday, September 20th. They issued a "neutral" rating and a $65.00 price objective for the company. Wells Fargo & Company cut their target price on SJW Group from $63.00 to $61.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 29th. Finally, StockNews.com lowered SJW Group from a "hold" rating to a "sell" rating in a research 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.