St. Joe Company (The) $JOE Shares Bought by Rye Brook Capital LLC

Key Points

• Rye Brook Capital LLC increased its stake in St. Joe Company by 20.7%, bringing its total ownership to 61,800 shares valued at approximately $2.95 million.
• Major shareholder Bruce R. Berkowitz sold 104,100 shares at an average price of $51.08, reducing his ownership by 0.63% while still holding around 16.3 million shares.
• St. Joe Company recently announced a quarterly dividend of $0.14 per share, reflecting a 1.2% yield and a payout ratio of 39.44%.

Rye Brook Capital LLC raised its position in St. Joe Company (The) (NYSE:JOE - Free Report) by 20.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,800 shares of the financial services provider's stock after acquiring an additional 10,600 shares during the quarter. St. Joe makes up approximately 3.1% of Rye Brook Capital LLC's portfolio, making the stock its 11th biggest position. Rye Brook Capital LLC owned 0.11% of St. Joe worth $2,948,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of JOE. GAMMA Investing LLC grew its position in shares of St. Joe by 21.1% during the second quarter. GAMMA Investing LLC now owns 1,295 shares of the financial services provider's stock worth $62,000 after buying an additional 226 shares in the last quarter. Arete Wealth Advisors LLC lifted its stake in St. Joe by 8.3% during the first quarter. Arete Wealth Advisors LLC now owns 5,467 shares of the financial services provider's stock worth $257,000 after purchasing an additional 420 shares during the last quarter. Viewpoint Capital Management LLC lifted its stake in St. Joe by 7.3% during the first quarter. Viewpoint Capital Management LLC now owns 7,384 shares of the financial services provider's stock worth $347,000 after purchasing an additional 500 shares during the last quarter. MAI Capital Management lifted its stake in St. Joe by 120.8% during the first quarter. MAI Capital Management now owns 1,104 shares of the financial services provider's stock worth $52,000 after purchasing an additional 604 shares during the last quarter. Finally, Lumbard & Kellner LLC lifted its stake in St. Joe by 4.7% during the first quarter. Lumbard & Kellner LLC now owns 14,557 shares of the financial services provider's stock worth $683,000 after purchasing an additional 653 shares during the last quarter. 86.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 104,100 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $51.08, for a total transaction of $5,317,428.00. Following the completion of the sale, the insider directly owned 16,324,624 shares of the company's stock, valued at $833,861,793.92. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 616,000 shares of company stock worth $31,340,145 in the last three months. 0.32% of the stock is owned by corporate insiders.

St. Joe Price Performance

Shares of NYSE JOE opened at $47.56 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. St. Joe Company has a twelve month low of $40.19 and a twelve month high of $60.36. The stock has a 50 day moving average of $50.21 and a two-hundred day moving average of $47.50. The stock has a market cap of $2.75 billion, a P/E ratio of 33.49 and a beta of 1.31.

St. Joe (NYSE:JOE - Get Free Report) last issued its quarterly earnings data 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 during the quarter.

St. Joe Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 22nd were paid a $0.14 dividend. The ex-dividend date was Friday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. St. Joe's payout ratio is currently 39.44%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "hold (c)" rating on shares of St. Joe in a research note on Wednesday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, St. Joe presently has an average rating of "Hold".

St. Joe Company 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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