Cresset Asset Management LLC Takes Position in St. Joe Company (The) $JOE

Cresset Asset Management LLC bought a new position in St. Joe Company (The) (NYSE:JOE) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 5,057 shares of the financial services provider’s stock, valued at approximately $237,000.

Other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in shares of St. Joe in the fourth quarter valued at about $38,000. CWM LLC raised its stake in St. Joe by 472.4% during the 1st quarter. CWM LLC now owns 3,709 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 3,061 shares during the period. Entropy Technologies LP purchased a new position in St. Joe in the 1st quarter worth approximately $222,000. Bridgefront Capital LLC purchased a new position in St. Joe in the 4th quarter worth approximately $225,000. Finally, Corton Capital Inc. bought a new position in St. Joe in the 4th quarter worth approximately $227,000. Hedge funds and other institutional investors own 86.67% of the company’s stock.

St. Joe Price Performance

NYSE:JOE opened at $50.81 on Wednesday. The business’s 50-day moving average is $49.82 and its 200 day moving average is $46.75. St. Joe Company has a 12 month low of $40.19 and a 12 month high of $62.49. The company has a market capitalization of $2.94 billion, a P/E ratio of 35.78 and a beta of 1.37. 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 (NYSE:JOE) last released its quarterly earnings results 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 business had revenue of $129.10 million during the quarter.

St. Joe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 22nd. St. Joe’s payout ratio is currently 39.44%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of St. Joe from a “buy” rating to a “hold” rating in a research report on Sunday, June 8th.

Insider Transactions at St. Joe

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 81,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $50.46, for a total transaction of $4,087,260.00. Following the completion of the transaction, the insider owned 16,454,024 shares in the company, valued at $830,270,051.04. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 486,600 shares of company stock worth $24,732,417 over the last quarter. 38.80% of the stock is owned by corporate insiders.

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.