Legal & General Group Plc Takes Position in St. Joe Company (The) $JOE

Key Points

• Legal & General Group Plc acquired 115,548 shares of St. Joe in the second quarter, valued at approximately $7.2 million and representing about 0.20% of the company. Institutional investors collectively own 86.67% of St. Joe.
• St. Joe reported quarterly earnings of $0.71 per share on revenue of $158.86 million, with a 22.45% net margin and 15.90% return on equity.
• The company declared a quarterly dividend of $0.16 per share, or $0.64 annualized, yielding approximately 1.0%. Shares opened at $65.29, while Weiss Ratings upgraded the stock from “hold” to “buy.”

Legal & General Group Plc bought a new stake in St. Joe Company (The) (NYSE:JOE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 115,548 shares of the financial services provider's stock, valued at approximately $7,237,000. Legal & General Group Plc owned about 0.20% of St. Joe as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in St. Joe in the second quarter valued at approximately $385,050,000. State Street Corp increased its holdings in shares of St. Joe by 1.5% during the fourth quarter. State Street Corp now owns 1,430,583 shares of the financial services provider's stock worth $84,934,000 after purchasing an additional 21,309 shares during the period. Geode Capital Management LLC raised its holdings in St. Joe by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 994,963 shares of the financial services provider's stock valued at $59,081,000 after acquiring an additional 11,621 shares in the last quarter. Nitor Capital Management LLC bought a new stake in St. Joe during the fourth quarter worth about $31,789,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of St. Joe by 5.4% during the 4th quarter. Victory Capital Management Inc. now owns 429,376 shares of the financial services provider's stock worth $25,492,000 after acquiring an additional 21,938 shares during the period. Institutional investors own 86.67% of the company's stock.

St. Joe Price Performance

JOE stock opened at $65.29 on Thursday. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 30.51 and a beta of 1.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.84 and a quick ratio of 1.84. The company has a 50 day simple moving average of $64.42 and a 200 day simple moving average of $65.90. St. Joe Company has a 1 year low of $46.37 and a 1 year high of $73.54.

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 for the quarter. The firm had revenue of $158.86 million for the quarter. St. Joe had a net margin of 22.45% and a return on equity of 15.90%.

St. Joe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 21st will be given 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 1.0%. St. Joe's payout ratio is currently 29.91%.

Insiders Place Their Bets

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 140,400 shares of the company's stock in a transaction dated 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 transaction, the insider owned 15,073,624 shares of the company's stock, valued at $990,487,833.04. This represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 447,400 shares of company stock worth $29,269,387. Insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

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