Emmett Investment Management LP Purchases Shares of 26,618 St. Joe Company (The) $JOE

Key Points

• Emmett Investment Management LP initiated a 26,618-share position in St. Joe during the first quarter, valued at approximately $1.7 million. Institutional investors collectively own 86.67% of the company.
• St. Joe reported quarterly revenue of $99.04 million and earnings of $0.24 per share, while its shares recently opened at $62.24, near the middle of their 52-week range.
• The company maintains a quarterly dividend of $0.16 per share, or $0.64 annually, representing a 1.0% yield. Analyst sentiment is currently “Hold,” and major shareholder Bruce R. Berkowitz recently sold 140,400 shares.

Emmett Investment Management LP bought a new stake in St. Joe Company (The) (NYSE:JOE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 26,618 shares of the financial services provider's stock, valued at approximately $1,713,000. St. Joe accounts for about 1.3% of Emmett Investment Management LP's portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in JOE. Camelot Portfolios LLC bought a new stake in shares of St. Joe during the fourth quarter valued at about $30,000. EverSource Wealth Advisors LLC raised its position in shares of St. Joe by 155.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider's stock worth $31,000 after buying an additional 397 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of St. Joe during the 4th quarter worth about $32,000. Quarry LP acquired a new stake in shares of St. Joe in the 3rd quarter worth approximately $39,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of St. Joe by 31.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider's stock worth $48,000 after acquiring an additional 236 shares during the period. Institutional investors and hedge funds own 86.67% of the company's stock.

St. Joe Stock Performance

Shares of JOE opened at $62.24 on Tuesday. St. Joe Company has a one year low of $46.37 and a one year high of $73.54. The company has a 50-day moving average of $63.26 and a two-hundred day moving average of $65.71. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 32.08 and a beta of 1.29. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.36 and a quick ratio of 2.36.

St. Joe (NYSE:JOE - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. St. Joe had a net margin of 21.61% and a return on equity of 14.59%. The business had revenue of $99.04 million for the quarter.

St. Joe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th were issued a $0.16 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. St. Joe's dividend payout ratio is presently 32.99%.

Insider Activity at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 140,400 shares of the firm's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $65.71, for a total value of $9,225,684.00. Following the completion of the sale, the insider owned 15,073,624 shares of the company's stock, valued at $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 available at this link. Insiders sold a total of 1,000,000 shares of company stock valued at $65,585,733 over the last ninety days. Company insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of St. Joe from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, St. Joe presently has a consensus rating of "Hold".

St. Joe Profile

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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