Ieq Capital LLC Takes $1.88 Million Position in St. Joe Company (The) $JOE

Ieq Capital LLC bought a new position in St. Joe Company (The) (NYSE:JOE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 30,088 shares of the financial services provider’s stock, valued at approximately $1,884,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Horizon Investments LLC purchased a new stake in St. Joe in the 4th quarter worth $1,653,000. Principal Financial Group Inc. increased its holdings in shares of St. Joe by 17.0% in the first quarter. Principal Financial Group Inc. now owns 222,891 shares of the financial services provider’s stock worth $13,998,000 after purchasing an additional 32,457 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of St. Joe by 277.2% in the first quarter. First Trust Advisors LP now owns 127,557 shares of the financial services provider’s stock worth $8,011,000 after purchasing an additional 93,736 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of St. Joe by 516.9% in the first quarter. Renaissance Technologies LLC now owns 54,900 shares of the financial services provider’s stock worth $3,448,000 after buying an additional 46,000 shares in the last quarter. Finally, Emmett Investment Management LP bought a new position in St. Joe during the first quarter valued at approximately $1,713,000. Institutional investors own 86.67% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded St. Joe from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

St. Joe Price Performance

JOE stock opened at $69.57 on Wednesday. St. Joe Company has a 52 week low of $46.37 and a 52 week high of $73.54. The firm has a market capitalization of $3.96 billion, a P/E ratio of 32.51 and a beta of 1.29. The company has a fifty day simple moving average of $64.26 and a two-hundred day simple moving average of $65.98. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.71.

St. Joe (NYSE:JOE) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.71 EPS for the quarter. St. Joe had a net margin of 22.45% and a return on equity of 15.90%. The firm had revenue of $158.86 million during the quarter.

St. Joe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 21st will be issued a $0.16 dividend. The ex-dividend date is Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. St. Joe’s payout ratio is 29.91%.

Insiders Place Their Bets

In related news, major shareholder Bruce R. Berkowitz sold 140,400 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $65.71, for a total value of $9,225,684.00. Following the completion of the sale, the insider directly owned 15,073,624 shares in the company, valued at $990,487,833.04. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 506,500 shares of company stock worth $33,116,206. Corporate insiders own 0.35% 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.