Municipal Employees Retirement System of Michigan Acquires 630 Shares of J2 Global Inc (JCOM)

Municipal Employees Retirement System of Michigan increased its holdings in J2 Global Inc (NASDAQ:JCOM) by 4.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,250 shares of the technology company’s stock after buying an additional 630 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in J2 Global were worth $1,204,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. California Public Employees Retirement System boosted its position in shares of J2 Global by 0.7% in the 4th quarter. California Public Employees Retirement System now owns 114,289 shares of the technology company’s stock worth $8,575,000 after buying an additional 794 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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 in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of J2 Global by 2.9% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 29,100 shares of the technology company’s stock worth $2,184,000 after buying an additional 832 shares in the last quarter. Aperio Group LLC boosted its position in shares of J2 Global by 2.2% in the 4th quarter. Aperio Group LLC now owns 42,080 shares of the technology company’s stock worth $3,157,000 after buying an additional 909 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of J2 Global by 0.9% in the 4th quarter. Teachers Advisors LLC now owns 127,081 shares of the technology company’s stock worth $9,535,000 after buying an additional 1,151 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Several equities research analysts recently commented on the stock. DA Davidson boosted their price objective on shares of J2 Global to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, May 9th. BidaskClub lowered shares of J2 Global from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 17th. Zacks Investment Research upgraded shares of J2 Global from a “sell” rating to a “hold” rating in a report on Wednesday, April 11th. William Blair restated an “outperform” rating on shares of J2 Global in a report on Tuesday, March 27th. Finally, Robert W. Baird upped their target price on shares of J2 Global from $94.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $94.33.

In other news, CEO Vivek Shah sold 3,000 shares of the stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $84.96, for a total transaction of $254,880.00. Following the transaction, the chief executive officer now directly owns 734,101 shares in the company, valued at approximately $62,369,220.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Steve P. Dunn sold 2,911 shares of the stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $87.36, for a total transaction of $254,304.96. Following the transaction, the insider now owns 23,412 shares in the company, valued at $2,045,272.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,220 shares of company stock worth $5,176,829. 5.97% of the stock is owned by insiders.

J2 Global opened at $85.74 on Monday, MarketBeat reports. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.92 and a beta of 0.84. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.22 and a current ratio of 2.22. J2 Global Inc has a 12-month low of $70.27 and a 12-month high of $90.90.

J2 Global (NASDAQ:JCOM) last released its earnings results on Monday, May 7th. The technology company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.02. The company had revenue of $280.62 million for the quarter, compared to analyst estimates of $274.66 million. J2 Global had a net margin of 11.58% and a return on equity of 26.09%. During the same period in the prior year, the firm earned $0.41 EPS. analysts forecast that J2 Global Inc will post 5.59 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 18th will be issued a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 1.94%. This is a positive change from J2 Global’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, May 17th. J2 Global’s dividend payout ratio is 30.68%.

J2 Global Profile

j2 Global, Inc, together with its subsidiaries, engages in the provision of Internet services worldwide. It operates through two segments, Cloud Services and Digital Media. The Cloud Services segment offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.

Institutional Ownership by Quarter for J2 Global (NASDAQ:JCOM)

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