Russell Investments Group Ltd. raised its position in shares of j2 Global, Inc. (NASDAQ:JCOM) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 225,235 shares of the technology company’s stock after buying an additional 5,996 shares during the period. Russell Investments Group Ltd. owned 0.47% of j2 Global worth $19,165,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in j2 Global by 18.7% in the first quarter. Bank of Montreal Can now owns 85,574 shares of the technology company’s stock worth $7,180,000 after buying an additional 13,500 shares in the last quarter. Horizon Investment Services LLC increased its position in j2 Global by 146.7% in the first quarter. Horizon Investment Services LLC now owns 17,401 shares of the technology company’s stock worth $1,460,000 after buying an additional 10,347 shares in the last quarter. American International Group Inc. increased its position in j2 Global by 4.4% in the first quarter. American International Group Inc. now owns 123,532 shares of the technology company’s stock worth $10,366,000 after buying an additional 5,212 shares in the last quarter. Alliancebernstein L.P. increased its position in j2 Global by 52.3% in the first quarter. Alliancebernstein L.P. now owns 131,219 shares of the technology company’s stock worth $11,011,000 after buying an additional 45,040 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in j2 Global during the first quarter worth $6,579,000.
Shares of j2 Global, Inc. (NASDAQ:JCOM) traded up 0.46% on Friday, reaching $73.63. 459,672 shares of the company traded hands. j2 Global, Inc. has a 52-week low of $62.55 and a 52-week high of $91.48. The stock has a 50 day moving average of $81.37 and a 200 day moving average of $84.11. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 24.67 and a beta of 0.94.
j2 Global (NASDAQ:JCOM) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.06. j2 Global had a return on equity of 26.62% and a net margin of 14.74%. The firm had revenue of $273.20 million for the quarter, compared to the consensus estimate of $271.89 million. During the same period last year, the company posted $1.21 earnings per share. The business’s revenue was up 29.0% compared to the same quarter last year. On average, analysts expect that j2 Global, Inc. will post $5.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be given a dividend of $0.385 per share. This is a positive change from j2 Global’s previous quarterly dividend of $0.38. This represents a $1.54 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, August 10th. j2 Global’s dividend payout ratio is 51.68%.
JCOM has been the topic of a number of recent research reports. BidaskClub downgraded shares of j2 Global from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Citigroup Inc. dropped their target price on shares of j2 Global from $89.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, August 7th. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $120.00 target price (up previously from $95.00) on shares of j2 Global in a report on Tuesday, May 9th. Finally, Zacks Investment Research downgraded shares of j2 Global from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $100.00.
In other news, insider Steve P. Dunn sold 3,328 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $85.63, for a total value of $284,976.64. Following the transaction, the insider now directly owns 18,830 shares of the company’s stock, valued at $1,612,412.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Brian Kretzmer sold 1,336 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $86.20, for a total transaction of $115,163.20. Following the completion of the transaction, the director now directly owns 11,607 shares in the company, valued at $1,000,523.40. The disclosure for this sale can be found here. Insiders have sold 19,664 shares of company stock worth $1,688,040 over the last ninety days. Insiders own 5.15% of the company’s stock.
j2 Global Company Profile
j2 Global, Inc is a provider of services delivered through the Internet. The Company provides cloud services to businesses of all sizes, from individuals to enterprises. The Company operates in two segments: Business Cloud Services and Digital Media. The Company’s Digital Media business segment consists of the Web properties and business operations of Ziff Davis, Inc (Ziff Davis).
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