Cresset Asset Management LLC Purchases Shares of 5,057 St. Joe Company (The) $JOE

Key Points

• Cresset Asset Management LLC has taken a new position in St. Joe Company by acquiring 5,057 shares valued at approximately $237,000 in the first quarter.
• St. Joe recently declared a $0.14 quarterly dividend with an annualized yield of 1.1%, to be paid on September 19th to investors of record.
• Despite strong earnings with a revenue of $129.10 million and a net margin of 19.39%, Wall Street analysts have downgraded St. Joe shares from a "buy" to a "hold" rating.

Cresset Asset Management LLC acquired a new position in St. Joe Company (The) (NYSE:JOE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,057 shares of the financial services provider's stock, valued at approximately $237,000.

Several other institutional investors and hedge funds have also modified their holdings of JOE. Envestnet Asset Management Inc. lifted its holdings in shares of St. Joe by 29.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 13,528 shares of the financial services provider's stock valued at $608,000 after acquiring an additional 3,049 shares during the period. Barclays PLC raised its holdings in shares of St. Joe by 3.7% in the fourth quarter. Barclays PLC now owns 67,376 shares of the financial services provider's stock valued at $3,027,000 after purchasing an additional 2,386 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of St. Joe by 5.8% during the 4th quarter. MetLife Investment Management LLC now owns 22,012 shares of the financial services provider's stock worth $989,000 after purchasing an additional 1,204 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of St. Joe by 35.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,216 shares of the financial services provider's stock valued at $324,000 after purchasing an additional 1,869 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of St. Joe by 8.9% during the fourth quarter. Stifel Financial Corp now owns 31,275 shares of the financial services provider's stock worth $1,405,000 after buying an additional 2,543 shares in the last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Bruce R. Berkowitz sold 167,500 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $51.44, for a total value of $8,616,200.00. Following the completion of the sale, the insider directly owned 16,634,024 shares in the company, valued at $855,654,194.56. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 486,600 shares of company stock worth $24,732,417 over the last three months. 0.32% of the stock is currently owned by corporate insiders.

St. Joe Price Performance

St. Joe stock traded down $0.10 during mid-day trading on Friday, hitting $50.56. 164,160 shares of the company traded hands, compared to its average volume of 229,285. St. Joe Company has a one year low of $40.19 and a one year high of $62.49. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 35.61 and a beta of 1.37. The stock has a fifty day moving average price of $50.06 and a 200-day moving average price of $46.83. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 1.45.

St. Joe (NYSE:JOE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.51 earnings per share for the quarter. The firm had revenue of $129.10 million for the quarter. St. Joe had a return on equity of 11.19% and a net margin of 19.39%.

St. Joe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.14 per share. The ex-dividend date is Friday, August 22nd. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. St. Joe's dividend payout ratio (DPR) is presently 39.44%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered St. Joe from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th.

St. Joe Profile

The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Northwest Florida. It operates through three segments: Residential, Hospitality, and Commercial. The Residential segment engages in the development of communities into homesites for sale to homebuilders and on a limited basis to retail customers.