Strs Ohio Invests $315,000 in St. Joe Company (The) $JOE

Key Points

• Strs Ohio invested $315,000 in St. Joe Company by purchasing 6,700 shares during the first quarter, highlighting increased interest from institutional investors.
• St. Joe Company recently declared a quarterly dividend of $0.14 per share, translating to an annualized dividend yield of 1.1%.
• Despite positive earnings results, Wall Street analysts downgraded St. Joe from a "buy" rating to a "hold" rating, signaling potential concerns about future performance.

Strs Ohio purchased a new stake in St. Joe Company (The) (NYSE:JOE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,700 shares of the financial services provider's stock, valued at approximately $315,000.

Several other hedge funds also recently added to or reduced their stakes in JOE. Charles Schwab Investment Management Inc. raised its stake in shares of St. Joe by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 371,097 shares of the financial services provider's stock valued at $17,423,000 after purchasing an additional 6,538 shares in the last quarter. Schwartz Investment Counsel Inc. increased its holdings in St. Joe by 23.1% in the first quarter. Schwartz Investment Counsel Inc. now owns 330,400 shares of the financial services provider's stock valued at $15,512,000 after buying an additional 62,000 shares during the last quarter. Principal Financial Group Inc. raised its stake in St. Joe by 2.3% during the first quarter. Principal Financial Group Inc. now owns 189,390 shares of the financial services provider's stock valued at $8,892,000 after buying an additional 4,324 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in St. Joe by 21.1% during the 4th quarter. Nuveen Asset Management LLC now owns 155,680 shares of the financial services provider's stock worth $6,995,000 after buying an additional 27,174 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of St. Joe in the 1st quarter worth approximately $7,195,000. 86.67% of the stock is owned by institutional investors and hedge funds.

St. Joe Price Performance

Shares of JOE opened at $49.88 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market cap of $2.89 billion, a P/E ratio of 35.13 and a beta of 1.35. St. Joe Company has a 12 month low of $40.19 and a 12 month high of $60.88. The stock has a fifty day moving average price of $50.63 and a 200 day moving average price of $47.28.

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

St. Joe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 22nd. St. Joe's payout ratio is 39.44%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut St. Joe from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th.

Insider Activity

In related news, major shareholder Bruce R. Berkowitz sold 167,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 16,634,024 shares of the company's stock, valued at $855,654,194.56. This represents a 1.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 616,000 shares of company stock worth $31,340,145 in the last three months. 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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