First Trust Advisors LP Increases Stock Position in St. Joe Company (The) $JOE

Key Points

• First Trust Advisors increased its St. Joe position by 277.2% in the first quarter, bringing its holdings to 127,557 shares valued at approximately $8 million. Institutional investors collectively own 86.67% of the company.
• St. Joe reported quarterly EPS of $0.71 on revenue of $158.86 million, with a 22.45% net margin. The company also declared a quarterly dividend of $0.16 per share, representing a 1.0% annualized yield.
• Major shareholder Bruce R. Berkowitz sold 140,400 shares, while insiders have sold 1 million shares worth $65.6 million over the past 90 days. Weiss Ratings downgraded the stock to “hold,” matching the current consensus rating.

First Trust Advisors LP lifted its position in shares of St. Joe Company (The) (NYSE:JOE - Free Report) by 277.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,557 shares of the financial services provider's stock after purchasing an additional 93,736 shares during the period. First Trust Advisors LP owned 0.22% of St. Joe worth $8,011,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its position in St. Joe by 4.9% in the 1st quarter. Royal Bank of Canada now owns 29,915 shares of the financial services provider's stock worth $1,404,000 after purchasing an additional 1,384 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of St. Joe by 152.4% during the 1st quarter. AQR Capital Management LLC now owns 76,084 shares of the financial services provider's stock worth $3,572,000 after buying an additional 45,939 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of St. Joe by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,459 shares of the financial services provider's stock worth $1,008,000 after buying an additional 951 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of St. Joe by 29.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,606 shares of the financial services provider's stock worth $4,113,000 after buying an additional 19,879 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of St. Joe by 45.8% in the first quarter. Intech Investment Management LLC now owns 26,218 shares of the financial services provider's stock valued at $1,231,000 after acquiring an additional 8,235 shares in the last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

St. Joe Price Performance

JOE opened at $62.09 on Friday. The firm has a market cap of $3.53 billion, a P/E ratio of 29.01 and a beta of 1.29. The firm has a 50-day moving average of $63.14 and a 200 day moving average of $65.67. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.36 and a current ratio of 1.84. St. Joe Company has a fifty-two week low of $46.37 and a fifty-two week high of $73.54.

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

St. Joe Announces Dividend

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 paid a dividend of $0.16 per share. The ex-dividend date is Friday, August 21st. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. St. Joe's dividend payout ratio (DPR) is presently 29.91%.

Insider Activity

In related news, major shareholder Bruce R. Berkowitz sold 140,400 shares of St. Joe stock in a transaction that occurred on 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 sale, the insider owned 15,073,624 shares of the company's stock, valued at approximately $990,487,833.04. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 1,000,000 shares of company stock worth $65,585,733. Company insiders own 0.35% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded St. Joe from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 22nd. One investment 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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