Mills Wealth Advisors LLC Boosts Stake in St. Joe Company (The) $JOE

Key Points

• Mills Wealth Advisors LLC increased its stake in St. Joe Company by 39.7% in Q2, owning 88,591 shares valued at approximately $4.2 million.
• The company announced a quarterly dividend of $0.14 per share, resulting in an annualized dividend yield of 1.1%.
• Insider trading activity included major shareholder Bruce R. Berkowitz selling 167,500 shares for approximately $8.6 million, reducing his ownership by 1.00%.

Mills Wealth Advisors LLC boosted its stake in St. Joe Company (The) (NYSE:JOE - Free Report) by 39.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 88,591 shares of the financial services provider's stock after buying an additional 25,193 shares during the quarter. St. Joe makes up about 1.9% of Mills Wealth Advisors LLC's holdings, making the stock its 14th biggest position. Mills Wealth Advisors LLC owned about 0.15% of St. Joe worth $4,226,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MAI Capital Management lifted its stake in St. Joe by 120.8% in the 1st quarter. MAI Capital Management now owns 1,104 shares of the financial services provider's stock valued at $52,000 after buying an additional 604 shares in the last quarter. GAMMA Investing LLC lifted its stake in St. Joe by 21.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,295 shares of the financial services provider's stock valued at $62,000 after buying an additional 226 shares in the last quarter. CWM LLC lifted its stake in St. Joe by 472.4% in the 1st quarter. CWM LLC now owns 3,709 shares of the financial services provider's stock valued at $174,000 after buying an additional 3,061 shares in the last quarter. Entropy Technologies LP purchased a new stake in St. Joe in the 1st quarter valued at approximately $222,000. Finally, Cresset Asset Management LLC purchased a new stake in St. Joe in the 1st quarter valued at approximately $237,000. Hedge funds and other institutional investors own 86.67% of the company's stock.

St. Joe Trading Up 1.3%

Shares of St. Joe stock opened at $48.77 on Tuesday. St. Joe Company has a fifty-two week low of $40.19 and a fifty-two week high of $59.55. The firm has a market cap of $2.82 billion, a PE ratio of 34.35 and a beta of 1.31. The business's fifty day moving average is $49.84 and its two-hundred day moving average is $47.60. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.81.

St. Joe (NYSE:JOE - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.51 earnings per share for the quarter. St. Joe had a return on equity of 11.19% and a net margin of 19.39%.The company had revenue of $129.10 million for the quarter.

St. Joe Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 22nd. St. Joe's dividend payout ratio (DPR) is 39.44%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of St. Joe in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Insider Buying and Selling at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 167,500 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $51.44, for a total value of $8,616,200.00. Following the transaction, the insider directly owned 16,634,024 shares of the company's stock, valued at approximately $855,654,194.56. This trade represents a 1.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 616,000 shares of company stock valued at $31,340,145. Company insiders own 38.80% of the company's stock.

St. Joe Profile

The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Northwest Florida. It operates through three segments: Residential, Hospitality, and Commercial. The Residential segment engages in the development of communities into homesites for sale to homebuilders and on a limited basis to retail customers.

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