Raymond James Financial Inc. Invests $1.94 Million in SJW Group (NYSE:SJW)

Raymond James Financial Inc. purchased a new stake in SJW Group (NYSE:SJW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 39,448 shares of the utilities provider's stock, valued at approximately $1,942,000. Raymond James Financial Inc. owned about 0.12% of SJW Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in SJW. Point72 DIFC Ltd increased its stake in shares of SJW Group by 81.4% in the 3rd quarter. Point72 DIFC Ltd now owns 704 shares of the utilities provider's stock worth $41,000 after acquiring an additional 316 shares during the last quarter. Intech Investment Management LLC acquired a new stake in SJW Group during the third quarter worth about $307,000. Ballentine Partners LLC raised its stake in SJW Group by 26.4% during the fourth quarter. Ballentine Partners LLC now owns 6,943 shares of the utilities provider's stock worth $342,000 after purchasing an additional 1,452 shares during the period. Canvas Wealth Advisors LLC raised its stake in SJW Group by 8.4% during the fourth 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 during the period. Finally, XTX Topco Ltd acquired a new position in SJW Group in the 3rd quarter valued at about $464,000. Hedge funds and other institutional investors own 84.29% of the company's stock.

SJW Group Trading Down 2.3 %

Shares of SJW stock traded down $1.24 during trading hours on Friday, hitting $53.50. The company had a trading volume of 325,969 shares, compared to its average volume of 220,998. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $1.80 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 3.94 and a beta of 0.58. The company's fifty day moving average is $52.71 and its 200 day moving average is $53.41. SJW Group has a fifty-two week low of $44.91 and a fifty-two week high of $62.18.

SJW Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were given a $0.42 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.68 dividend on an annualized basis and a yield of 3.14%. This is a positive change from SJW Group's previous quarterly dividend of $0.40. SJW Group's dividend payout ratio (DPR) is currently 58.95%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SJW shares. Wells Fargo & Company lifted 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. Bank of America upgraded SJW Group from a "neutral" rating to a "buy" rating and reduced their target price for the company from $59.00 to $55.00 in a research report on Monday, February 3rd. Finally, StockNews.com raised SJW Group from a "sell" rating to a "hold" rating in a research note on Friday, February 28th.

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.