Legal & General Group Plc lifted its position in shares of j2 Global, Inc. (NASDAQ:JCOM) by 22.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,629 shares of the technology company’s stock after purchasing an additional 6,826 shares during the period. Legal & General Group Plc owned about 0.08% of j2 Global worth $3,206,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of j2 Global by 21,973.5% during the first quarter. BlackRock Inc. now owns 4,838,726 shares of the technology company’s stock worth $406,018,000 after purchasing an additional 4,816,805 shares in the last quarter. Vanguard Group Inc. raised its holdings in j2 Global by 4.7% in the first quarter. Vanguard Group Inc. now owns 3,781,603 shares of the technology company’s stock valued at $317,314,000 after acquiring an additional 170,245 shares in the last quarter. State Street Corp raised its holdings in j2 Global by 6.6% in the first quarter. State Street Corp now owns 1,603,454 shares of the technology company’s stock valued at $134,551,000 after acquiring an additional 99,731 shares in the last quarter. Macquarie Group Ltd. raised its holdings in j2 Global by 5.6% in the first quarter. Macquarie Group Ltd. now owns 1,254,327 shares of the technology company’s stock valued at $105,251,000 after acquiring an additional 66,286 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in j2 Global by 31.9% in the first quarter. Schroder Investment Management Group now owns 1,210,417 shares of the technology company’s stock valued at $102,498,000 after acquiring an additional 292,945 shares in the last quarter.
Several analysts recently issued reports on JCOM shares. BidaskClub cut shares of j2 Global from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. ValuEngine cut shares of j2 Global from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Citigroup Inc. cut their price target 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. Robert W. Baird reaffirmed a “buy” rating and issued a $94.00 price target on shares of j2 Global in a report on Friday, September 1st. Finally, Zacks Investment Research cut 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, two have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $100.60.
Shares of j2 Global, Inc. (NASDAQ:JCOM) opened at 74.13 on Friday. The company has a 50-day moving average of $75.63 and a 200 day moving average of $82.77. j2 Global, Inc. has a 12-month low of $62.55 and a 12-month high of $91.48. The firm has a market capitalization of $3.58 billion, a PE ratio of 24.83 and a beta of 0.97.
j2 Global (NASDAQ:JCOM) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.06). j2 Global had a net margin of 14.74% and a return on equity of 26.62%. The business had revenue of $273.20 million during the quarter, compared to the consensus estimate of $271.89 million. During the same period in the prior year, the company posted $1.21 earnings per share. The firm’s revenue was up 29.0% compared to the same quarter last year. On average, analysts predict that j2 Global, Inc. will post $5.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 14th were given a $0.385 dividend. This represents a $1.54 annualized dividend and a dividend yield of 2.08%. This is a boost from j2 Global’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, August 10th. j2 Global’s dividend payout ratio is currently 51.68%.
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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