Envestnet Asset Management Inc. Boosts Stake in St. Joe Company (The) $JOE

Envestnet Asset Management Inc. boosted its holdings in shares of St. Joe Company (The) (NYSE:JOE) by 15.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,481 shares of the financial services provider’s stock after acquiring an additional 2,866 shares during the period. Envestnet Asset Management Inc.’s holdings in St. Joe were worth $1,025,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. MAI Capital Management boosted its holdings in shares of St. Joe by 120.8% during the 1st quarter. MAI Capital Management now owns 1,104 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 604 shares during the last quarter. GAMMA Investing LLC boosted its stake in St. Joe by 21.1% during the second quarter. GAMMA Investing LLC now owns 1,295 shares of the financial services provider’s stock worth $62,000 after buying an additional 226 shares during the last quarter. CWM LLC grew its holdings in St. Joe by 472.4% in the 1st quarter. CWM LLC now owns 3,709 shares of the financial services provider’s stock valued at $174,000 after buying an additional 3,061 shares in the last quarter. Entropy Technologies LP purchased a new stake in St. Joe in the 1st quarter valued at $222,000. Finally, Cresset Asset Management LLC acquired a new stake in shares of St. Joe in the 1st quarter worth $237,000. 86.67% of the stock is owned by hedge funds and other institutional investors.

St. Joe Stock Up 3.0%

Shares of JOE opened at $57.39 on Friday. The company’s 50-day moving average price is $52.25 and its 200 day moving average price is $49.75. 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. The firm has a market cap of $3.31 billion, a P/E ratio of 31.88 and a beta of 1.44.

St. Joe (NYSE:JOE) last announced its 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 during the quarter. St. Joe had a net margin of 21.40% and a return on equity of 14.10%.

St. Joe Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on JOE shares. Weiss Ratings reissued a “hold (c+)” rating on shares of St. Joe in a research report on Wednesday. Wall Street Zen upgraded shares of St. Joe from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, St. Joe currently has an average rating of “Hold”.

Insider Buying and Selling

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 104,100 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 16,324,624 shares in the company, valued at $833,861,793.92. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by company insiders.

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.