Ameriprise Financial Inc. Has $19.83 Million Position in j2 Global, Inc. (JCOM)
Ameriprise Financial Inc. trimmed 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 and Exchange Commission. The fund owned 268,423 shares of the technology company’s stock after selling 10,847 shares during the period. Ameriprise Financial Inc. owned about 0.56% of j2 Global worth $19,831,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. FMR LLC grew its stake in j2 Global by 19.9% in the 2nd quarter. FMR LLC now owns 6,055,030 shares of the technology company’s stock worth $515,222,000 after acquiring an additional 1,004,664 shares in the last quarter. Vanguard Group Inc. grew its stake in j2 Global by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,904,633 shares of the technology company’s stock worth $332,246,000 after acquiring an additional 123,030 shares in the last quarter. William Blair Investment Management LLC grew its stake in j2 Global by 20.0% in the 2nd quarter. William Blair Investment Management LLC now owns 3,114,743 shares of the technology company’s stock worth $265,033,000 after acquiring an additional 518,998 shares in the last quarter. State Street Corp grew its stake in j2 Global by 4.5% in the 2nd quarter. State Street Corp now owns 1,675,239 shares of the technology company’s stock worth $142,548,000 after acquiring an additional 71,785 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in j2 Global by 14.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,475,529 shares of the technology company’s stock worth $109,013,000 after acquiring an additional 181,704 shares in the last quarter.
In related news, VP Jeremy Rossen sold 2,514 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $74.05, for a total transaction of $186,161.70. Following the completion of the sale, the vice president now owns 26,372 shares of the company’s stock, valued at $1,952,846.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.15% of the company’s stock.
j2 Global (NASDAQ:JCOM) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.36 by ($0.02). j2 Global had a net margin of 12.60% and a return on equity of 26.43%. The business had revenue of $273.60 million for the quarter, compared to the consensus estimate of $272.84 million. During the same quarter in the prior year, the business posted $1.25 earnings per share. j2 Global’s revenue for the quarter was up 30.2% on a year-over-year basis. analysts predict that j2 Global, Inc. will post 5.35 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Friday, November 17th were given a dividend of $0.395 per share. This is a boost from j2 Global’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, November 16th. This represents a $1.58 dividend on an annualized basis and a yield of 2.16%. j2 Global’s dividend payout ratio is presently 58.52%.
A number of equities analysts have recently issued reports on JCOM shares. Zacks Investment Research downgraded shares of j2 Global from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. ValuEngine downgraded shares of j2 Global from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub downgraded shares of j2 Global from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Robert W. Baird reiterated a “buy” rating and set a $94.00 price objective on shares of j2 Global in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. j2 Global currently has a consensus rating of “Hold” and an average target price of $101.75.
j2 Global 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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