Sterling Investment Management LLC Acquires New Position in The St. Joe Company (NYSE:JOE)

Sterling Investment Management LLC bought a new stake in The St. Joe Company (NYSE:JOE - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 21,249 shares of the financial services provider's stock, valued at approximately $998,000.

Other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in shares of St. Joe by 277.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 585 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 430 shares during the period. Lazard Asset Management LLC purchased a new stake in St. Joe in the 4th quarter worth $38,000. Campbell Capital Management Inc. purchased a new stake in St. Joe in the 4th quarter worth $67,000. XTX Topco Ltd purchased a new stake in St. Joe in the 4th quarter worth $210,000. Finally, Legacy Capital Group California Inc. increased its holdings in St. Joe by 12.4% in the 4th quarter. Legacy Capital Group California Inc. now owns 4,899 shares of the financial services provider's stock worth $220,000 after acquiring an additional 540 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 2,900 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $47.01, for a total transaction of $136,329.00. Following the completion of the sale, the insider now owns 16,940,624 shares of the company's stock, valued at $796,378,734.24. This represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 38.80% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of St. Joe from a "buy" rating to a "hold" rating in a report on Sunday, June 8th.

St. Joe Price Performance

NYSE JOE traded down $0.82 on Friday, hitting $46.02. The company had a trading volume of 182,573 shares, compared to its average volume of 229,072. The company has a market capitalization of $2.68 billion, a PE ratio of 39.00 and a beta of 1.36. The company's fifty day moving average price is $43.99 and its 200-day moving average price is $45.73. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.34 and a quick ratio of 1.34. The St. Joe Company has a 12-month low of $40.19 and a 12-month high of $64.69.

St. Joe (NYSE:JOE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.30 EPS for the quarter. The company had revenue of $94.20 million during the quarter. St. Joe had a net margin of 17.76% and a return on equity of 9.58%.

St. Joe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Tuesday, June 10th. St. Joe's payout ratio is 42.11%.

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.