St. Joe Company (The) $JOE Shares Purchased by Old West Investment Management LLC

Old West Investment Management LLC increased its holdings in St. Joe Company (The) (NYSE:JOE) by 2.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 95,484 shares of the financial services provider’s stock after acquiring an additional 1,976 shares during the period. St. Joe makes up about 1.5% of Old West Investment Management LLC’s holdings, making the stock its 24th largest holding. Old West Investment Management LLC’s holdings in St. Joe were worth $4,555,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC purchased a new position in shares of St. Joe during the 2nd quarter worth $547,000. American Century Companies Inc. lifted its position in St. Joe by 234.7% in the first quarter. American Century Companies Inc. now owns 20,595 shares of the financial services provider’s stock valued at $967,000 after buying an additional 14,442 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in St. Joe during the first quarter worth about $281,000. Prospera Financial Services Inc purchased a new position in St. Joe during the second quarter worth about $2,224,000. Finally, Cresset Asset Management LLC acquired a new stake in shares of St. Joe during the first quarter valued at about $237,000. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Insider Transactions at St. Joe

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 104,100 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $51.08, for a total transaction of $5,317,428.00. Following the completion of the transaction, the insider owned 16,324,624 shares in the company, valued at $833,861,793.92. The trade was a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 239,400 shares of company stock valued at $12,149,918 in the last ninety days. 0.32% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on JOE. Wall Street Zen upgraded shares of St. Joe from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Weiss Ratings restated a “hold (c)” rating on shares of St. Joe in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, St. Joe currently has a consensus rating of “Hold”.

St. Joe Stock Down 2.2%

Shares of NYSE JOE opened at $58.48 on Friday. The stock has a market cap of $3.38 billion, a P/E ratio of 32.49 and a beta of 1.44. The business’s fifty day simple moving average is $51.64 and its 200-day simple moving average is $49.19. St. Joe Company has a 12-month low of $40.19 and a 12-month high of $61.00. 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 issued its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $0.67 earnings per share for the quarter. The company had revenue of $161.08 million for the quarter. St. Joe had a return on equity of 14.10% and a net margin of 21.40%.

St. Joe Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Thursday, November 13th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.1%. This is a positive change from St. Joe’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, November 13th. St. Joe’s dividend payout ratio is 35.56%.

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.