California State Teachers Retirement System Has $5.50 Million Position in J2 Global Inc (JCOM)
California State Teachers Retirement System trimmed its stake in shares of J2 Global Inc (NASDAQ:JCOM) by 9.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,427 shares of the technology company’s stock after selling 7,937 shares during the quarter. California State Teachers Retirement System owned 0.15% of J2 Global worth $5,499,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Advisor Group Inc. grew its position in J2 Global by 1.7% during the second quarter. Advisor Group Inc. now owns 2,535 shares of the technology company’s stock worth $195,000 after buying an additional 43 shares in the last quarter. Amalgamated Bank grew its position in J2 Global by 3.6% during the second quarter. Amalgamated Bank now owns 6,716 shares of the technology company’s stock worth $571,000 after buying an additional 233 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in J2 Global by 15.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,757 shares of the technology company’s stock worth $150,000 after buying an additional 241 shares in the last quarter. BB&T Securities LLC grew its position in J2 Global by 8.4% during the second quarter. BB&T Securities LLC now owns 3,184 shares of the technology company’s stock worth $270,000 after buying an additional 246 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in J2 Global by 1.8% during the second quarter. Ameritas Investment Partners Inc. now owns 18,502 shares of the technology company’s stock worth $1,574,000 after buying an additional 331 shares in the last quarter.
In other news, VP Jeremy Rossen sold 2,514 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $74.05, for a total value of $186,161.70. Following the completion of the sale, the vice president now owns 26,372 shares of the company’s stock, valued at approximately $1,952,846.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.15% of the company’s stock.
J2 Global (NASDAQ:JCOM) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.02). J2 Global had a return on equity of 26.43% and a net margin of 12.60%. The firm had revenue of $273.60 million during the quarter, compared to analysts’ expectations of $272.84 million. During the same quarter in the previous year, the company posted $1.25 earnings per share. J2 Global’s revenue for the quarter was up 30.2% compared to the same quarter last year. research analysts anticipate that J2 Global Inc will post 5.35 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Friday, November 17th were paid a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Thursday, November 16th. This is a positive change from J2 Global’s previous quarterly dividend of $0.39. J2 Global’s payout ratio is 58.52%.
Several equities analysts recently commented on the company. Zacks Investment Research upgraded J2 Global from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine upgraded J2 Global from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. Finally, BidaskClub cut J2 Global from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. J2 Global presently has an average rating of “Hold” and a consensus price target of $101.75.
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About J2 Global
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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