State of Alaska Department of Revenue Grows Stake in St. Joe Company (The) $JOE

State of Alaska Department of Revenue lifted its stake in St. Joe Company (The) (NYSE:JOE) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,534 shares of the financial services provider’s stock after purchasing an additional 1,501 shares during the quarter. State of Alaska Department of Revenue’s holdings in St. Joe were worth $1,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of JOE. MAI Capital Management increased its stake in St. Joe by 120.8% during the 1st quarter. MAI Capital Management now owns 1,104 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 604 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of St. Joe by 21.1% during the second quarter. GAMMA Investing LLC now owns 1,295 shares of the financial services provider’s stock valued at $62,000 after buying an additional 226 shares during the last quarter. CWM LLC increased its position in shares of St. Joe by 472.4% during 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 in the last quarter. Entropy Technologies LP purchased a new position in St. Joe in the 1st quarter worth approximately $222,000. Finally, Cresset Asset Management LLC bought a new position in St. Joe in the 1st quarter valued at approximately $237,000. 86.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Bruce R. Berkowitz sold 167,500 shares of St. Joe 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 transaction, the insider directly owned 16,634,024 shares in the company, valued at approximately $855,654,194.56. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 616,000 shares of company stock worth $31,340,145 in the last quarter. 38.80% of the stock is currently owned by insiders.

St. Joe Trading Up 1.0%

Shares of NYSE:JOE opened at $49.33 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 34.74 and a beta of 1.31. The stock’s 50-day simple moving average is $50.44 and its two-hundred day simple moving average is $47.49. St. Joe Company has a 52-week low of $40.19 and a 52-week high of $60.36.

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

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 paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 22nd. St. Joe’s dividend payout ratio (DPR) is currently 39.44%.

Analysts Set New Price Targets

A number of analysts have commented on JOE shares. Wall Street Zen lowered St. Joe from a “buy” rating to a “hold” rating in a report on Sunday, June 8th. Weiss Ratings reaffirmed 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 data from MarketBeat.com, the stock has a consensus rating of “Hold”.

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.