American Century Companies Inc. Acquires New Position in South Jersey Industries Inc (SJI)
American Century Companies Inc. acquired a new stake in shares of South Jersey Industries Inc (NYSE:SJI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 120,802 shares of the utilities provider’s stock, valued at approximately $4,043,000. American Century Companies Inc. owned about 0.14% of South Jersey Industries at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new position in shares of South Jersey Industries during the first quarter valued at about $112,000. Bank of Montreal Can bought a new position in shares of South Jersey Industries during the second quarter valued at about $125,000. Point72 Asia Hong Kong Ltd bought a new position in shares of South Jersey Industries during the first quarter valued at about $148,000. Royal Bank of Canada grew its stake in shares of South Jersey Industries by 77.4% during the first quarter. Royal Bank of Canada now owns 5,579 shares of the utilities provider’s stock valued at $156,000 after buying an additional 2,435 shares during the last quarter. Finally, Integrated Investment Consultants LLC bought a new position in shares of South Jersey Industries during the second quarter valued at about $182,000. 85.11% of the stock is currently owned by hedge funds and other institutional investors.
NYSE SJI opened at $33.50 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.12 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $2.87 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 1.72 and a beta of 0.50. South Jersey Industries Inc has a 1 year low of $25.96 and a 1 year high of $36.41.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Monday, September 10th will be issued a $0.28 dividend. The ex-dividend date is Friday, September 7th. This represents a $1.12 annualized dividend and a yield of 3.34%. South Jersey Industries’s dividend payout ratio (DPR) is presently 91.06%.
In related news, Director Sunita Holzer acquired 1,500 shares of the stock in a transaction on Monday, August 27th. The stock was acquired at an average cost of $32.88 per share, for a total transaction of $49,320.00. Following the completion of the acquisition, the director now directly owns 25,866 shares of the company’s stock, valued at approximately $850,474.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.64% of the company’s stock.
Several analysts recently issued reports on SJI shares. JPMorgan Chase & Co. raised their target price on South Jersey Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Zacks Investment Research raised South Jersey Industries from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Wednesday, May 16th. TheStreet cut South Jersey Industries from a “b+” rating to a “c+” rating in a research note on Thursday, August 9th. ValuEngine raised South Jersey Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Finally, Morgan Stanley raised their target price on South Jersey Industries from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $34.71.
About South Jersey Industries
South Jersey Industries, Inc, through its subsidiaries, provides energy-related products and services. The company engages in the purchase, transmission, and sale of natural gas. It also sells natural gas and pipeline transportation capacity on a wholesale basis to residential, commercial, and industrial customers on the interstate pipeline system, as well as transports natural gas, which is purchased directly from producers or suppliers to their customers.
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