J2 Global Inc (JCOM) Holdings Lifted by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company boosted its holdings in J2 Global Inc (NASDAQ:JCOM) by 9.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 114,375 shares of the technology company’s stock after purchasing an additional 9,596 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in J2 Global were worth $8,581,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of JCOM. Zurcher Kantonalbank Zurich Cantonalbank increased its position in J2 Global by 47.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,588 shares of the technology company’s stock worth $194,000 after buying an additional 831 shares during the period. Oppenheimer & Co. Inc. bought a new position in J2 Global in the 4th quarter worth approximately $210,000. Parametrica Management Ltd bought a new position in J2 Global in the 3rd quarter worth approximately $229,000. Raymond James Financial Services Advisors Inc. bought a new position in J2 Global in the 3rd quarter worth approximately $250,000. Finally, First Republic Investment Management Inc. increased its position in J2 Global by 46.3% in the 3rd quarter. First Republic Investment Management Inc. now owns 4,173 shares of the technology company’s stock worth $309,000 after buying an additional 1,321 shares during the period.
Shares of J2 Global Inc (NASDAQ JCOM) opened at $76.89 on Monday. J2 Global Inc has a fifty-two week low of $70.27 and a fifty-two week high of $91.48. The firm has a market capitalization of $3,774.96, a P/E ratio of 14.37, a PEG ratio of 1.73 and a beta of 0.94. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.98.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Thursday, February 22nd will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, February 21st. This is a positive change from J2 Global’s previous quarterly dividend of $0.40. J2 Global’s dividend payout ratio (DPR) is presently 57.24%.
Several analysts have recently weighed in on the company. BidaskClub lowered J2 Global from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Zacks Investment Research raised J2 Global from a “sell” rating to a “hold” rating in a report on Tuesday, December 19th. DA Davidson assumed coverage on J2 Global in a report on Friday, February 2nd. They set a “buy” rating and a $95.00 price objective on the stock. Robert W. Baird lifted their price objective on J2 Global from $94.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, William Blair reissued an “outperform” rating on shares of J2 Global in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. J2 Global presently has a consensus rating of “Hold” and a consensus target price of $99.50.
In other news, CEO Vivek Shah sold 3,000 shares of J2 Global stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $76.59, for a total transaction of $229,770.00. Following the sale, the chief executive officer now owns 745,232 shares of the company’s stock, valued at approximately $57,077,318.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.15% of the stock is currently owned by company insiders.
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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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