Rothschild & Co. Asset Management US Inc. lessened its holdings in J2 Global Inc (NASDAQ:JCOM) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 429,681 shares of the technology company’s stock after selling 4,556 shares during the quarter. Rothschild & Co. Asset Management US Inc.’s holdings in J2 Global were worth $35,599,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its stake in shares of J2 Global by 6.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 55,627 shares of the technology company’s stock worth $4,818,000 after acquiring an additional 3,482 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of J2 Global by 2.5% during the 2nd quarter. MetLife Investment Advisors LLC now owns 52,164 shares of the technology company’s stock worth $4,518,000 after acquiring an additional 1,275 shares in the last quarter. World Asset Management Inc purchased a new stake in shares of J2 Global during the 2nd quarter worth approximately $208,000. Itau Unibanco Holding S.A. purchased a new stake in shares of J2 Global during the 2nd quarter worth approximately $194,000. Finally, Martingale Asset Management L P boosted its stake in shares of J2 Global by 1.7% during the 2nd quarter. Martingale Asset Management L P now owns 70,415 shares of the technology company’s stock worth $6,099,000 after acquiring an additional 1,201 shares in the last quarter. 98.54% of the stock is currently owned by institutional investors.
Shares of NASDAQ:JCOM opened at $71.63 on Friday. The company has a market cap of $3.53 billion, a PE ratio of 13.24, a PEG ratio of 1.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.75 and a current ratio of 1.75. J2 Global Inc has a 12 month low of $69.09 and a 12 month high of $91.58.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Monday, November 19th will be given a dividend of $0.435 per share. This is an increase from J2 Global’s previous quarterly dividend of $0.43. This represents a $1.74 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, November 16th. J2 Global’s payout ratio is currently 32.16%.
In related news, insider Steve P. Dunn sold 1,052 shares of J2 Global stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $83.90, for a total transaction of $88,262.80. Following the completion of the transaction, the insider now directly owns 18,416 shares in the company, valued at approximately $1,545,102.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vivek Shah sold 3,000 shares of J2 Global stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $82.23, for a total value of $246,690.00. Following the transaction, the chief executive officer now owns 720,830 shares of the company’s stock, valued at $59,273,850.90. The disclosure for this sale can be found here. Insiders have sold a total of 10,052 shares of company stock valued at $768,303 over the last 90 days. Insiders own 5.15% of the company’s stock.
JCOM has been the topic of several research analyst reports. BidaskClub raised J2 Global from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Wedbush initiated coverage on J2 Global in a research note on Thursday, October 18th. They set an “outperform” rating and a $95.00 price target on the stock. ValuEngine lowered J2 Global from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Citigroup decreased their price target on J2 Global from $88.00 to $86.00 and set a “neutral” rating on the stock in a research note on Monday, August 13th. Finally, Robert W. Baird reissued a “buy” rating and set a $92.00 price target on shares of J2 Global in a research note on Monday, August 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. J2 Global presently has an average rating of “Hold” and an average price target of $93.25.
J2 Global Profile
j2 Global, Inc, together with its subsidiaries, engages in the provision of Internet services worldwide. It operates through two segments, Cloud Services and Digital Media. The Cloud Services segment offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.
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