Wealth Enhancement Advisory Services LLC Takes $547,000 Position in St. Joe Company (The) $JOE

Wealth Enhancement Advisory Services LLC acquired a new stake in St. Joe Company (The) (NYSE:JOE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,059 shares of the financial services provider’s stock, valued at approximately $547,000.

Other large investors have also modified their holdings of the company. MAI Capital Management boosted its holdings in shares of St. Joe by 120.8% in the first quarter. MAI Capital Management now owns 1,104 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 604 shares during the period. CWM LLC boosted its holdings in shares of St. Joe by 472.4% in the first quarter. CWM LLC now owns 3,709 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 3,061 shares during the period. Entropy Technologies LP acquired a new stake in shares of St. Joe in the first quarter valued at approximately $222,000. Cresset Asset Management LLC acquired a new stake in shares of St. Joe in the first quarter valued at approximately $237,000. Finally, Byrne Asset Management LLC boosted its holdings in shares of St. Joe by 36.8% in the first quarter. Byrne Asset Management LLC now owns 5,122 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 1,377 shares during the period. 86.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on JOE shares. Wall Street Zen downgraded St. Joe from a “buy” rating to a “hold” rating in a report on Sunday, June 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of St. Joe in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, St. Joe presently has an average rating of “Hold”.

St. Joe Stock Performance

Shares of JOE opened at $49.33 on Friday. The business’s 50 day moving average is $50.44 and its two-hundred day moving average is $47.48. St. Joe Company has a 52-week low of $40.19 and a 52-week high of $60.36. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 34.74 and a beta of 1.31. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.81.

St. Joe (NYSE:JOE) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter. St. Joe had a return on equity of 11.19% and a net margin of 19.39%.The company had revenue of $129.10 million for the quarter.

St. Joe Announces Dividend

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

Insider Buying and Selling

In related news, major shareholder Bruce R. Berkowitz sold 167,500 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $51.44, for a total transaction of $8,616,200.00. Following the completion of the transaction, the insider directly owned 16,634,024 shares in the company, valued at $855,654,194.56. This represents a 1.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 616,000 shares of company stock worth $31,340,145. 0.32% of the stock is owned by corporate insiders.

About St. Joe

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.