Ieq Capital LLC bought a new stake in shares of St. Joe Company (The) (NYSE:JOE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 30,088 shares of the financial services provider's stock, valued at approximately $1,884,000. Ieq Capital LLC owned about 0.05% of St. Joe at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of JOE. Callan Family Office LLC purchased a new position in shares of St. Joe in the 2nd quarter worth $501,000. BlackRock Inc. purchased a new stake in St. Joe during the second quarter valued at $385,050,000. Deutsche Bank AG bought a new position in St. Joe in the second quarter valued at about $2,620,000. OneDigital Investment Advisors LLC purchased a new position in St. Joe in the second quarter worth about $205,000. Finally, State of Wyoming purchased a new position in St. Joe in the second quarter worth about $26,000. 86.67% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Separately, Weiss Ratings upgraded shares of St. Joe from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".
Check Out Our Latest Stock Report on St. Joe
St. Joe Price Performance
Shares of St. Joe stock opened at $69.57 on Wednesday. The stock has a market cap of $3.96 billion, a P/E ratio of 32.51 and a beta of 1.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.84 and a current ratio of 1.84. The stock's fifty day moving average is $64.26 and its 200 day moving average is $65.98. St. Joe Company has a one year low of $46.37 and a one year high of $73.54.
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. St. Joe had a return on equity of 15.90% and a net margin of 22.45%.The business had revenue of $158.86 million during the quarter.
St. Joe Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders 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 dividend on an annualized basis and a yield of 0.9%. St. Joe's dividend payout ratio (DPR) is presently 29.91%.
Insider Buying and Selling at St. Joe
In related news, major shareholder Bruce R. Berkowitz sold 140,400 shares of St. Joe stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $65.71, for a total transaction of $9,225,684.00. Following the transaction, the insider owned 15,073,624 shares in the company, valued at approximately $990,487,833.04. The trade was a 0.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 506,500 shares of company stock valued at $33,116,206 in the last three months. Corporate insiders own 0.35% of the company's stock.
St. Joe Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding JOE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for St. Joe Company (The) (NYSE:JOE - Free Report).
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