Ameriprise Financial Inc. reduced its position in shares of J2 Global Inc (NASDAQ:JCOM) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 268,423 shares of the technology company’s stock after selling 10,847 shares during the quarter. Ameriprise Financial Inc. owned about 0.56% of J2 Global worth $19,831,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in JCOM. Alps Advisors Inc. boosted its position in shares of J2 Global by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,629 shares of the technology company’s stock worth $479,000 after purchasing an additional 15 shares in the last quarter. First Mercantile Trust Co. lifted its position in J2 Global by 1.9% during the 2nd quarter. First Mercantile Trust Co. now owns 2,150 shares of the technology company’s stock worth $183,000 after acquiring an additional 40 shares during the period. Advisor Group Inc. lifted its position in J2 Global by 1.7% during the 2nd quarter. Advisor Group Inc. now owns 2,535 shares of the technology company’s stock worth $195,000 after acquiring an additional 43 shares during the period. World Asset Management Inc lifted its position in J2 Global by 2.0% during the 2nd quarter. World Asset Management Inc now owns 3,025 shares of the technology company’s stock worth $257,000 after acquiring an additional 59 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in J2 Global by 5.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,828 shares of the technology company’s stock worth $326,000 after acquiring an additional 194 shares during the period.
In other news, VP Jeremy Rossen sold 2,514 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $74.05, for a total transaction of $186,161.70. Following the transaction, the vice president now directly owns 26,372 shares in the company, valued at approximately $1,952,846.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.15% of the company’s stock.
JCOM has been the subject of a number of research reports. ValuEngine raised J2 Global from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. Zacks Investment Research upgraded J2 Global from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, BidaskClub lowered J2 Global from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. J2 Global currently has an average rating of “Hold” and an average target price of $101.75.
J2 Global Inc (NASDAQ JCOM) traded down $0.12 during mid-day trading on Tuesday, reaching $74.91. The company had a trading volume of 398,200 shares, compared to its average volume of 332,050. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 1.02. J2 Global Inc has a 12 month low of $71.09 and a 12 month high of $91.48. The firm has a market cap of $3,630.00, a PE ratio of 27.74 and a beta of 0.87.
J2 Global (NASDAQ:JCOM) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.02). The firm had revenue of $273.60 million during the quarter, compared to analyst estimates of $272.84 million. J2 Global had a return on equity of 26.43% and a net margin of 12.60%. The company’s quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. equities research analysts anticipate that J2 Global Inc will post 5.35 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Friday, November 17th were issued a dividend of $0.395 per share. This is a boost from J2 Global’s previous quarterly dividend of $0.39. This represents a $1.58 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Thursday, November 16th. J2 Global’s payout ratio is currently 58.52%.
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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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