St. Joe (NYSE:JOE) Sets New 1-Year High – Here’s What Happened

St. Joe Company (The) (NYSE:JOE) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $73.54 and last traded at $72.02, with a volume of 174499 shares changing hands. The stock had previously closed at $72.79.

Wall Street Analysts Forecast Growth

JOE has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of St. Joe in a research report on Monday, December 29th. Wall Street Zen cut St. Joe from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, St. Joe currently has an average rating of “Buy”.

St. Joe Stock Down 1.7%

The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 34.44 and a beta of 1.30. The business’s 50-day moving average is $66.54 and its 200-day moving average is $58.44.

St. Joe (NYSE:JOE) last announced its quarterly earnings results on Wednesday, February 25th. The financial services provider reported $0.52 earnings per share for the quarter. The company had revenue of $128.89 million for the quarter. St. Joe had a return on equity of 15.23% and a net margin of 22.52%.

St. Joe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 9th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, March 9th. St. Joe’s dividend payout ratio (DPR) is currently 32.00%.

Insider Transactions at St. Joe

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 87,700 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $65.51, for a total value of $5,745,227.00. Following the completion of the transaction, the insider directly owned 16,165,024 shares of the company’s stock, valued at approximately $1,058,970,722.24. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 229,900 shares of company stock valued at $15,201,327 over the last three months. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On St. Joe

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in St. Joe by 3.1% in the third quarter. Vanguard Group Inc. now owns 5,959,298 shares of the financial services provider’s stock valued at $294,866,000 after buying an additional 179,877 shares in the last quarter. State Street Corp increased its stake in shares of St. Joe by 1.5% in the 4th quarter. State Street Corp now owns 1,430,583 shares of the financial services provider’s stock valued at $84,934,000 after purchasing an additional 21,309 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of St. Joe by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 994,963 shares of the financial services provider’s stock valued at $59,081,000 after purchasing an additional 11,621 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in St. Joe by 1.0% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 555,891 shares of the financial services provider’s stock worth $26,516,000 after purchasing an additional 5,552 shares during the period. Finally, Nitor Capital Management LLC acquired a new position in St. Joe in the 4th quarter worth about $31,789,000. Institutional investors and hedge funds own 86.67% of the company’s stock.

About St. Joe

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.