SJW Group (NYSE:SJW) Trading Up 2.1% - Here's What Happened

SJW Group (NYSE:SJW - Get Free Report)'s stock price was up 2.1% during trading on Friday . The company traded as high as $53.43 and last traded at $53.39. Approximately 112,466 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 218,018 shares. The stock had previously closed at $52.28.

Analyst Ratings Changes

Several brokerages recently weighed in on SJW. Bank of America raised shares of SJW Group from a "neutral" rating to a "buy" rating and cut their price objective for the company from $59.00 to $55.00 in a research report on Monday, February 3rd. StockNews.com raised shares of SJW Group from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Wells Fargo & Company increased their target price on shares of SJW Group from $53.00 to $57.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th.

SJW Group Stock Performance

The company has a market cap of $1.82 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 3.94 and a beta of 0.58. 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 firm has a fifty day simple moving average of $52.24 and a 200 day simple moving average of $53.51.

SJW Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were paid a dividend of $0.42 per share. This is an increase from SJW Group's previous quarterly dividend of $0.40. The ex-dividend date was Monday, February 10th. This represents a $1.68 annualized dividend and a yield of 3.10%. SJW Group's dividend payout ratio is presently 58.95%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SJW. Arizona State Retirement System grew its stake in shares of SJW Group by 2.2% in the fourth quarter. Arizona State Retirement System now owns 9,015 shares of the utilities provider's stock worth $444,000 after acquiring an additional 197 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of SJW Group by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 17,198 shares of the utilities provider's stock valued at $846,000 after buying an additional 210 shares during the last quarter. Stifel Financial Corp lifted its position in shares of SJW Group by 2.2% in the 4th quarter. Stifel Financial Corp now owns 10,270 shares of the utilities provider's stock worth $505,000 after acquiring an additional 223 shares during the period. HighTower Advisors LLC lifted its position in SJW Group by 5.6% in the fourth quarter. HighTower Advisors LLC now owns 4,430 shares of the utilities provider's stock worth $218,000 after purchasing an additional 233 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of SJW Group by 64.4% during the 4th quarter. Russell Investments Group Ltd. now owns 766 shares of the utilities provider's stock worth $38,000 after acquiring an additional 300 shares during the period. 84.29% of the stock is currently owned by institutional investors and hedge funds.

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.