Renaissance Technologies LLC Raises Stake in St. Joe Company (The) $JOE

Key Points

• Renaissance Technologies increased its St. Joe stake by 516.9% in the first quarter, owning 54,900 shares valued at approximately $3.45 million. Institutional investors collectively hold 86.67% of the company.
• Weiss Ratings upgraded St. Joe from “hold” to “buy,” while MarketBeat lists a consensus “Buy” rating. The stock opened at $67.56, near the middle of its 52-week range.
• St. Joe reported quarterly earnings of $0.71 per share on $158.86 million in revenue and declared a quarterly dividend of $0.16, equivalent to a 0.9% annual yield.

Renaissance Technologies LLC increased its holdings in St. Joe Company (The) (NYSE:JOE - Free Report) by 516.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,900 shares of the financial services provider's stock after buying an additional 46,000 shares during the quarter. Renaissance Technologies LLC owned about 0.10% of St. Joe worth $3,448,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Camelot Portfolios LLC purchased a new stake in shares of St. Joe in the 4th quarter valued at $30,000. Kestra Advisory Services LLC acquired a new stake in shares of St. Joe in the fourth quarter worth $32,000. EverSource Wealth Advisors LLC raised its holdings in shares of St. Joe by 155.7% during the second quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider's stock worth $31,000 after purchasing an additional 397 shares during the last quarter. Quarry LP purchased a new position in shares of St. Joe during the third quarter worth $39,000. Finally, Smartleaf Asset Management LLC lifted its position in St. Joe by 31.8% during the second quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 236 shares during the period. 86.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of St. Joe from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy".

St. Joe Trading Up 0.3%

St. Joe stock opened at $67.56 on Friday. The firm has a market cap of $3.85 billion, a PE ratio of 31.57 and a beta of 1.29. St. Joe Company has a 12 month low of $46.37 and a 12 month high of $73.54. The stock's 50 day simple moving average is $63.31 and its two-hundred day simple moving average is $65.69. 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 posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.71 earnings per share for the quarter. St. Joe had a net margin of 22.45% and a return on equity of 15.90%. The firm had revenue of $158.86 million during the quarter.

St. Joe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be issued 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 yield of 0.9%. St. Joe's payout ratio is presently 29.91%.

Insider Buying and Selling at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 140,400 shares of the stock in a transaction dated 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 sale, the insider directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 535,700 shares of company stock valued at $35,028,514 in the last three months. Corporate insiders own 0.35% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source