Gamco Investors INC. ET AL Decreases Holdings in St. Joe Company (The) $JOE

Key Points

• Gamco Investors cut its stake in St. Joe by 25.1% in the first quarter, selling 158,000 shares and leaving it with 471,510 shares worth about $29.6 million.
• St. Joe reported Q1 EPS of $0.24 on $99.04 million in revenue, with a net margin of 21.61% and return on equity of 14.59%.
• The company also paid a quarterly dividend of $0.16 per share, while insiders and some analysts showed mixed sentiment, including a Weiss Ratings downgrade to Hold and major shareholder Bruce R. Berkowitz selling shares.

Gamco Investors INC. ET AL trimmed its position in St. Joe Company (The) (NYSE:JOE - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 471,510 shares of the financial services provider's stock after selling 158,000 shares during the period. Gamco Investors INC. ET AL owned approximately 0.82% of St. Joe worth $29,611,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of St. Joe by 39.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 679 shares of the financial services provider's stock worth $40,000 after purchasing an additional 193 shares in the last quarter. HRT Financial LP boosted its position in shares of St. Joe by 0.7% in the 2nd quarter. HRT Financial LP now owns 32,349 shares of the financial services provider's stock worth $1,543,000 after purchasing an additional 213 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of St. Joe by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 7,428 shares of the financial services provider's stock worth $441,000 after purchasing an additional 218 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in St. Joe by 31.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider's stock worth $48,000 after buying an additional 236 shares during the last quarter. Finally, Arete Wealth Advisors LLC grew its stake in St. Joe by 5.3% during the 4th quarter. Arete Wealth Advisors LLC now owns 6,059 shares of the financial services provider's stock worth $360,000 after buying an additional 303 shares during the last quarter. 86.67% of the stock is owned by hedge funds and other institutional investors.

St. Joe Stock Up 0.1%

JOE stock opened at $62.20 on Friday. The stock has a market capitalization of $3.57 billion, a PE ratio of 32.06 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 company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average of $63.30 and a 200 day moving average of $65.68.

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

St. Joe Announces Dividend

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

Analyst Ratings Changes

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

Insider Activity

In related news, major shareholder Bruce R. Berkowitz sold 189,200 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $65.78, for a total value of $12,445,576.00. Following the transaction, the insider directly owned 15,884,424 shares of the company's stock, valued at $1,044,877,410.72. This represents a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 1,000,000 shares of company stock valued at $65,585,733. 0.35% of the stock is owned by corporate insiders.

St. Joe Company 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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