Sterling Investment Management LLC purchased a new position in shares of The St. Joe Company (NYSE:JOE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,249 shares of the financial services provider's stock, valued at approximately $998,000.
Several other hedge funds have also recently modified their holdings of the stock. Nations Financial Group Inc. IA ADV grew its stake in St. Joe by 308.9% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 22,900 shares of the financial services provider's stock valued at $1,029,000 after acquiring an additional 17,300 shares in the last quarter. Meixler Investment Management Ltd. grew its stake in St. Joe by 16.4% during the 4th quarter. Meixler Investment Management Ltd. now owns 27,386 shares of the financial services provider's stock valued at $1,230,000 after acquiring an additional 3,854 shares in the last quarter. Principal Financial Group Inc. grew its stake in St. Joe by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 185,066 shares of the financial services provider's stock valued at $8,315,000 after acquiring an additional 5,411 shares in the last quarter. Mraz Amerine & Associates Inc. grew its stake in St. Joe by 20.7% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 40,500 shares of the financial services provider's stock valued at $1,820,000 after acquiring an additional 6,953 shares in the last quarter. Finally, Rye Brook Capital LLC purchased a new stake in St. Joe during the 4th quarter valued at about $1,105,000. Institutional investors and hedge funds own 86.67% of the company's stock.
St. Joe Trading Down 0.6%
Shares of St. Joe stock traded down $0.29 during mid-day trading on Thursday, hitting $46.81. The stock had a trading volume of 237,800 shares, compared to its average volume of 228,507. The firm has a 50-day moving average of $43.82 and a two-hundred day moving average of $45.87. The St. Joe Company has a 12-month low of $40.19 and a 12-month high of $64.69. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.85. The firm has a market cap of $2.73 billion, a P/E ratio of 39.67 and a beta of 1.36.
St. Joe (NYSE:JOE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.30 earnings per share for the quarter. The firm 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 Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.20%. St. Joe's payout ratio is currently 42.11%.
Analysts Set New Price Targets
Separately, Wall Street Zen cut shares of St. Joe from a "buy" rating to a "hold" rating in a research note on Sunday.
Read Our Latest Stock Analysis on JOE
Insider Buying and Selling
In related news, major shareholder Bruce R. Berkowitz sold 2,900 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 16,940,624 shares of the company's stock, valued at approximately $796,378,734.24. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 38.80% of the stock is currently owned by corporate insiders.
About St. Joe
(
Free Report)
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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