The Manufacturers Life Insurance Company Invests $1.33 Million in St. Joe Company (The) $JOE

Key Points

• The Manufacturers Life Insurance Company acquired 21,215 shares of St. Joe valued at approximately $1.33 million during the second quarter. Institutional investors collectively own 86.67% of the company.
• Weiss Ratings upgraded St. Joe from “hold” to “buy,” while the stock has a consensus “Buy” rating from analysts.
• St. Joe reported quarterly EPS of $0.71 on revenue of $158.86 million and declared a quarterly dividend of $0.16, representing a 1.0% annualized yield.

The Manufacturers Life Insurance Company purchased a new position in St. Joe Company (The) (NYSE:JOE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 21,215 shares of the financial services provider's stock, valued at approximately $1,329,000.

Several other institutional investors also recently bought and sold shares of the company. State of Wyoming bought a new stake in St. Joe during the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of St. Joe by 155.7% in the second quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider's stock worth $31,000 after buying an additional 397 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of St. Joe during the fourth quarter valued at approximately $32,000. Quarry LP purchased a new stake in shares of St. Joe during the third quarter valued at approximately $39,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of 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 buying an additional 236 shares during the last quarter. 86.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings raised St. Joe from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy".

St. Joe Price Performance

NYSE JOE opened at $66.07 on Friday. St. Joe Company has a 52 week low of $46.37 and a 52 week high of $73.54. The firm has a market capitalization of $3.76 billion, a P/E ratio of 30.87 and a beta of 1.29. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $64.41 and a 200-day moving average price of $65.87.

St. Joe (NYSE:JOE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter. The company had revenue of $158.86 million for the quarter. St. Joe had a net margin of 22.45% and a return on equity of 15.90%.

St. Joe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be given a $0.16 dividend. The ex-dividend date is Friday, August 21st. This represents a $0.64 annualized dividend and a yield of 1.0%. St. Joe's dividend payout ratio (DPR) is presently 29.91%.

Insider Buying and Selling at St. Joe

In other news, major shareholder Bruce Berkowitz sold 140,400 shares of the business's stock in a transaction on 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 completion of the sale, the insider owned 15,073,624 shares of the company's stock, valued at $990,487,833.04. The trade was a 0.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 413,800 shares of company stock worth $27,079,339. Company insiders own 0.35% of the company's stock.

St. Joe 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.

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