Jupiter Topco LLC Takes Position in St. Joe Company (The) $JOE

Key Points

• Jupiter Topco LLC acquired 18,214 shares of St. Joe during the second quarter, valued at approximately $1.14 million. Institutional investors now own 86.67% of the company, with several other firms also initiating or increasing positions.
• St. Joe shares opened at $66.07, with a market capitalization of $3.76 billion and a one-year trading range of $46.37 to $73.54. The company reported quarterly revenue of $158.86 million and earnings of $0.71 per share.
• The company declared a quarterly dividend of $0.16 per share, equivalent to $0.64 annually and a 1.0% yield. Weiss Ratings upgraded the stock to “buy,” while major shareholder Bruce Berkowitz has sold more than 413,000 shares over the past three months.

Jupiter Topco LLC acquired a new position in shares of St. Joe Company (The) (NYSE:JOE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,214 shares of the financial services provider's stock, valued at approximately $1,140,000.

Other institutional investors also recently modified their holdings of the company. Canada Pension Plan Investment Board purchased a new stake in St. Joe in the second quarter valued at approximately $858,000. Legal & General Group Plc purchased a new position in St. Joe in the 2nd quarter worth approximately $7,237,000. The Manufacturers Life Insurance Company bought a new position in shares of St. Joe in the 2nd quarter worth $1,329,000. Aberdeen Wealth Management LLC purchased a new stake in shares of St. Joe during the 2nd quarter valued at $51,000. Finally, Algert Global LLC raised its position in shares of St. Joe by 6.4% during the 2nd quarter. Algert Global LLC now owns 104,099 shares of the financial services provider's stock valued at $6,520,000 after buying an additional 6,250 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors.

St. Joe Stock Performance

Shares of NYSE JOE opened at $66.07 on Friday. The stock's 50-day moving average is $64.41 and its 200 day moving average is $65.87. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 30.87 and a beta of 1.29. St. Joe Company has a 1-year low of $46.37 and a 1-year high of $73.54. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.71.

St. Joe (NYSE:JOE - Get Free Report) last issued its 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 21st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. St. Joe's dividend payout ratio is 29.91%.

Insider Activity

In related news, major shareholder Bruce Berkowitz sold 140,400 shares of the 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 of the company's stock, valued at approximately $990,487,833.04. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 413,800 shares of company stock valued at $27,079,339. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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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