Prudential Financial Inc. boosted its stake in shares of j2 Global Inc. (NASDAQ:JCOM) by 55.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 228,589 shares of the company’s stock after buying an additional 81,600 shares during the period. Prudential Financial Inc. owned approximately 0.48% of j2 Global worth $14,440,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. TimesSquare Capital Management LLC increased its position in shares of j2 Global by 9.4% in the first quarter. TimesSquare Capital Management LLC now owns 1,695,187 shares of the company’s stock valued at $104,390,000 after buying an additional 146,290 shares during the last quarter. State Street Corp increased its position in shares of j2 Global by 1.6% in the first quarter. State Street Corp now owns 1,541,166 shares of the company’s stock worth $94,903,000 after buying an additional 24,835 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of j2 Global by 3.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,369,143 shares of the company’s stock worth $84,312,000 after buying an additional 42,398 shares in the last quarter. Schroder Investment Management Group increased its position in shares of j2 Global by 149.4% in the second quarter. Schroder Investment Management Group now owns 701,872 shares of the company’s stock worth $44,337,000 after buying an additional 420,433 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of j2 Global by 6.2% in the first quarter. Wellington Management Group LLP now owns 668,988 shares of the company’s stock worth $41,197,000 after buying an additional 39,057 shares in the last quarter.
j2 Global Inc. (NASDAQ:JCOM) opened at 66.61 on Friday. The company has a market capitalization of $3.20 billion, a P/E ratio of 23.97 and a beta of 1.21. The stock’s 50 day moving average is $67.48 and its 200-day moving average is $65.00. j2 Global Inc. has a 1-year low of $55.43 and a 1-year high of $84.15.
j2 Global (NASDAQ:JCOM) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.06. The firm earned $211.80 million during the quarter, compared to the consensus estimate of $206.41 million. j2 Global had a net margin of 17.16% and a return on equity of 24.28%. The firm’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, analysts expect that j2 Global Inc. will post $4.90 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Wednesday, August 17th were issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Monday, August 15th. This is an increase from j2 Global’s previous quarterly dividend of $0.34. j2 Global’s payout ratio is currently 49.46%.
A number of equities analysts have commented on JCOM shares. Citigroup Inc. restated a “buy” rating and issued a $73.00 target price on shares of j2 Global in a research note on Wednesday, August 17th. Zacks Investment Research upgraded shares of j2 Global from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Friday, August 5th. Finally, Robert W. Baird started coverage on shares of j2 Global in a research note on Tuesday, August 30th. They issued an “outperform” rating and a $83.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $85.17.
In other j2 Global news, Director W Brian Kretzmer sold 6,600 shares of j2 Global stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $67.95, for a total value of $448,470.00. Following the completion of the transaction, the director now owns 14,897 shares of the company’s stock, valued at $1,012,251.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jeremy Rossen sold 1,014 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $67.01, for a total value of $67,948.14. Following the completion of the sale, the vice president now owns 24,708 shares in the company, valued at $1,655,683.08. The disclosure for this sale can be found here. 5.11% of the stock is currently owned by company insiders.
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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