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

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

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in shares of SJW Group by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 339,990 shares of the utilities provider’s stock worth $18,434,000 after purchasing an additional 4,357 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of SJW Group by 6.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 41,414 shares of the utilities provider’s stock valued at $2,245,000 after buying an additional 2,667 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of SJW Group by 10.3% in the 2nd quarter. Van ECK Associates Corp now owns 8,288 shares of the utilities provider’s stock valued at $449,000 after buying an additional 775 shares in the last quarter. Arizona State Retirement System grew its position in shares of SJW Group by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 8,526 shares of the utilities provider’s stock worth $462,000 after buying an additional 189 shares during the last quarter. Finally, Chris Bulman Inc bought a new position in shares of SJW Group during the 2nd quarter worth approximately $30,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

SJW Group Price Performance

Shares of SJW opened at $49.22 on Wednesday. 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 company’s fifty day moving average price is $54.17 and its 200-day moving average price is $56.47. SJW Group has a 1-year low of $48.78 and a 1-year high of $66.22. The firm has a market capitalization of $1.61 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 3.26 and a beta of 0.62.

SJW Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Monday, November 4th. SJW Group’s dividend payout ratio is presently 57.97%.

Analysts Set New Price Targets

SJW has been the topic of a number of recent analyst reports. StockNews.com downgraded SJW Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Bank of America assumed coverage on SJW Group in a research note on Friday, September 20th. They issued a “neutral” rating and a $65.00 price target for the company. Finally, Wells Fargo & Company dropped their price target on SJW Group from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th.

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.