Corebridge Financial Inc. Trims Stake in SJW Group (NYSE:SJW)

Corebridge Financial Inc. lessened its holdings in SJW Group (NYSE:SJW) by 5.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,696 shares of the utilities provider’s stock after selling 1,067 shares during the period. Corebridge Financial Inc.’s holdings in SJW Group were worth $871,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in SJW Group by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 2,617,642 shares of the utilities provider’s stock valued at $128,840,000 after acquiring an additional 72,081 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of SJW Group during the 4th quarter valued at about $300,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in SJW Group by 1.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 62,284 shares of the utilities provider’s stock worth $3,066,000 after buying an additional 923 shares during the last quarter. Swiss National Bank boosted its stake in SJW Group by 2.0% in the fourth quarter. Swiss National Bank now owns 61,100 shares of the utilities provider’s stock worth $3,007,000 after buying an additional 1,200 shares in the last quarter. Finally, Parkworth Wealth Management Inc. bought a new position in SJW Group during the fourth quarter valued at approximately $178,000. Institutional investors own 84.29% of the company’s stock.

SJW Group Trading Down 2.3 %

NYSE SJW opened at $53.50 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.77 and a current ratio of 0.77. SJW Group has a fifty-two week low of $44.91 and a fifty-two week high of $62.18. The stock has a market cap of $1.80 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 3.94 and a beta of 0.58. The stock has a 50 day simple moving average of $52.71 and a two-hundred day simple moving average of $53.41.

SJW Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were issued a $0.42 dividend. The ex-dividend date was Monday, February 10th. This is a positive change from SJW Group’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 3.14%. SJW Group’s dividend payout ratio (DPR) is 58.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of SJW Group from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Bank of America upgraded shares of SJW Group from a “neutral” rating to a “buy” rating and cut their price target for the company from $59.00 to $55.00 in a research report on Monday, February 3rd. Finally, Wells Fargo & Company boosted their target price on SJW Group from $53.00 to $57.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th.

SJW Group Company Profile

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.