Berkley W R Corp Takes $13.12 Million Position in St. Joe Company (The) $JOE

Berkley W R Corp acquired a new position in St. Joe Company (The) (NYSE:JOE) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 209,542 shares of the financial services provider’s stock, valued at approximately $13,124,000. St. Joe comprises approximately 0.6% of Berkley W R Corp’s investment portfolio, making the stock its 20th largest holding. Berkley W R Corp owned about 0.37% of St. Joe at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State of Wyoming acquired a new position in St. Joe in the second quarter worth approximately $26,000. Camelot Portfolios LLC bought a new position in shares of St. Joe in the fourth quarter valued at $30,000. Kestra Advisory Services LLC acquired a new stake in shares of St. Joe during the 4th quarter valued at $32,000. EverSource Wealth Advisors LLC lifted its position in shares of St. Joe by 155.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 397 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of St. Joe during the 3rd quarter worth $39,000. 86.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

St. Joe Stock Performance

Shares of JOE opened at $69.06 on Thursday. St. Joe Company has a one year low of $46.37 and a one year high of $73.54. The company has a 50-day moving average of $64.38 and a two-hundred day moving average of $65.99. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 32.27 and a beta of 1.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.84 and a quick ratio of 1.84.

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

St. Joe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st 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 Friday, August 21st. St. Joe’s payout ratio is presently 29.91%.

Wall Street Analysts Forecast Growth

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

St. Joe Profile

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.