Carmel Capital Partners LLC Lowers Position in St. Joe Company (The) $JOE

Carmel Capital Partners LLC reduced its stake in St. Joe Company (The) (NYSE:JOEFree Report) by 50.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,204 shares of the financial services provider’s stock after selling 4,235 shares during the quarter. Carmel Capital Partners LLC’s holdings in St. Joe were worth $201,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in St. Joe in the 1st quarter valued at $263,000. SG Americas Securities LLC purchased a new stake in St. Joe in the 1st quarter valued at $475,000. Principal Financial Group Inc. raised its position in St. Joe by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 189,390 shares of the financial services provider’s stock valued at $8,892,000 after buying an additional 4,324 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in St. Joe in the 2nd quarter valued at $547,000. Finally, Teacher Retirement System of Texas purchased a new stake in St. Joe in the 1st quarter valued at $281,000. 86.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of St. Joe in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Get Our Latest Analysis on St. Joe

St. Joe Stock Down 1.2%

Shares of NYSE JOE opened at $48.09 on Friday. St. Joe Company has a 52 week low of $40.19 and a 52 week high of $60.04. The business has a 50-day simple moving average of $49.87 and a two-hundred day simple moving average of $47.55. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.81. The company has a market cap of $2.78 billion, a P/E ratio of 33.86 and a beta of 1.31.

St. Joe (NYSE:JOEGet Free Report) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $0.51 EPS 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 was paid on Friday, September 19th. Stockholders of record on Friday, August 22nd were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 22nd. St. Joe’s dividend payout ratio (DPR) is 39.44%.

Insider Activity

In other news, major shareholder Bruce R. Berkowitz sold 104,100 shares of St. Joe stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $51.08, for a total transaction of $5,317,428.00. Following the completion of the sale, the insider owned 16,324,624 shares in the company, valued at approximately $833,861,793.92. This trade represents a 0.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 616,000 shares of company stock worth $31,340,145. Company insiders own 0.32% of the company’s stock.

About St. Joe

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding JOE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for St. Joe Company (The) (NYSE:JOEFree Report).

Institutional Ownership by Quarter for St. Joe (NYSE:JOE)

Receive News & Ratings for St. Joe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for St. Joe and related companies with MarketBeat.com's FREE daily email newsletter.