Swiss National Bank increased its stake in shares of J2 Global Inc (NASDAQ:JCOM) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,631 shares of the technology company’s stock after purchasing an additional 1,500 shares during the quarter. Swiss National Bank owned approximately 0.17% of J2 Global worth $7,095,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP increased its position in J2 Global by 13.5% in the 3rd quarter. First Trust Advisors LP now owns 1,965,705 shares of the technology company’s stock valued at $162,859,000 after acquiring an additional 234,167 shares during the period. Macquarie Group Ltd. increased its position in J2 Global by 18.8% in the 2nd quarter. Macquarie Group Ltd. now owns 1,016,872 shares of the technology company’s stock valued at $88,071,000 after acquiring an additional 161,215 shares during the period. Bank of New York Mellon Corp increased its position in J2 Global by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 789,890 shares of the technology company’s stock valued at $68,412,000 after acquiring an additional 27,483 shares during the period. Northern Trust Corp increased its position in J2 Global by 2.0% in the 2nd quarter. Northern Trust Corp now owns 779,347 shares of the technology company’s stock valued at $67,499,000 after acquiring an additional 15,330 shares during the period. Finally, Glenmede Trust Co. NA increased its position in J2 Global by 3.0% in the 2nd quarter. Glenmede Trust Co. NA now owns 717,468 shares of the technology company’s stock valued at $62,140,000 after acquiring an additional 21,033 shares during the period. Institutional investors and hedge funds own 98.54% of the company’s stock.
NASDAQ:JCOM opened at $73.81 on Friday. 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 52 week low of $69.09 and a 52 week high of $91.58. The firm has a market capitalization of $3.64 billion, a PE ratio of 13.64, a PEG ratio of 1.59 and a beta of 0.94.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Monday, November 19th will be paid a $0.435 dividend. This is a positive change from J2 Global’s previous quarterly dividend of $0.43. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Friday, November 16th. J2 Global’s dividend payout ratio is currently 32.16%.
In other news, CEO Vivek Shah sold 3,000 shares of the company’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $72.55, for a total value of $217,650.00. Following the sale, the chief executive officer now directly owns 717,830 shares of the company’s stock, valued at approximately $52,078,566.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 9,000 shares of company stock worth $680,040. Insiders own 5.15% of the company’s stock.
JCOM has been the subject of several recent research reports. Robert W. Baird restated a “buy” rating and issued a $92.00 price target on shares of J2 Global in a research report on Monday, August 13th. Wedbush restated a “buy” rating and issued a $95.00 price target on shares of J2 Global in a research report on Tuesday, November 6th. Zacks Investment Research restated a “hold” rating on shares of J2 Global in a research report on Tuesday, November 13th. BidaskClub upgraded shares of J2 Global from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Finally, Citigroup decreased their price target on shares of J2 Global from $88.00 to $86.00 and set a “neutral” rating for the company in a research report on Monday, August 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. J2 Global presently has a consensus rating of “Hold” and a consensus price target of $93.25.
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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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