Deutsche Bank AG Invests $2.62 Million in St. Joe Company (The) $JOE

Key Points

• Deutsche Bank acquired 41,829 St. Joe shares worth approximately $2.62 million, while institutional investors collectively owned 86.67% of the company.
• Major shareholder Bruce R. Berkowitz sold 140,400 shares for about $9.23 million; insiders have sold roughly $33.1 million in stock over the past 90 days.
• St. Joe reported quarterly EPS of $0.71 on revenue of $158.86 million, declared a $0.16 quarterly dividend, and received a ratings upgrade to “buy.”

Deutsche Bank AG bought a new stake in shares of St. Joe Company (The) (NYSE:JOE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,829 shares of the financial services provider's stock, valued at approximately $2,620,000. Deutsche Bank AG owned about 0.07% of St. Joe at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in JOE. Horizon Investments LLC purchased a new stake in shares of St. Joe in the fourth quarter valued at approximately $1,653,000. Principal Financial Group Inc. lifted its position in St. Joe by 17.0% during the first quarter. Principal Financial Group Inc. now owns 222,891 shares of the financial services provider's stock worth $13,998,000 after buying an additional 32,457 shares in the last quarter. First Trust Advisors LP lifted its position in St. Joe by 277.2% during the first quarter. First Trust Advisors LP now owns 127,557 shares of the financial services provider's stock worth $8,011,000 after buying an additional 93,736 shares in the last quarter. Renaissance Technologies LLC boosted its stake in St. Joe by 516.9% during the first quarter. Renaissance Technologies LLC now owns 54,900 shares of the financial services provider's stock worth $3,448,000 after buying an additional 46,000 shares during the last quarter. Finally, Emmett Investment Management LP acquired a new position in St. Joe during the first quarter worth $1,713,000. Hedge funds and other institutional investors own 86.67% of the company's stock.

Insider Activity at St. Joe

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 140,400 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $65.71, for a total value of $9,225,684.00. Following the completion of the transaction, the insider directly owned 15,073,624 shares of the company's stock, valued at approximately $990,487,833.04. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 506,500 shares of company stock valued at $33,116,206 in the last ninety days. 0.35% of the stock is owned by company insiders.

St. Joe Trading Down 1.4%

NYSE:JOE opened at $68.16 on Friday. The company has a market capitalization of $3.88 billion, a PE ratio of 31.85 and a beta of 1.29. St. Joe Company has a 52-week low of $46.37 and a 52-week high of $73.54. The stock's 50 day moving average price is $64.42 and its 200 day moving average price is $65.98. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.71.

St. Joe (NYSE:JOE - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter. The firm had revenue of $158.86 million for the quarter. St. Joe had a return on equity of 15.90% and a net margin of 22.45%.

St. Joe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 21st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 21st. St. Joe's dividend payout ratio (DPR) is currently 29.91%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of St. Joe from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, St. Joe presently has an average rating of "Buy".

About St. Joe

The St. Joe Company NYSE: JOE is a leading real estate development and asset management firm focused on Northwest Florida. Headquartered in Jacksonville, the company owns and manages approximately 171,000 acres of land across Bay, Gulf, Franklin and Walton counties. St. Joe's core businesses include residential community development, commercial real estate, and hospitality, with an emphasis on master-planned neighborhoods, office and retail campuses, resort hotels and mixed-use town centers.

Founded in 1936 as a paper manufacturing company, St.

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