St. Joe (NYSE:JOE) Issues Quarterly Earnings Results

St. Joe (NYSE:JOE) issued its earnings results on Wednesday. The financial services provider reported $0.71 earnings per share for the quarter, FiscalAI reports. 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 for the quarter.

St. Joe Stock Performance

Shares of NYSE:JOE traded down $1.25 on Friday, reaching $61.82. The company’s stock had a trading volume of 87,273 shares, compared to its average volume of 236,898. The stock’s 50-day moving average is $63.17 and its two-hundred day moving average is $65.70. St. Joe has a 52-week low of $46.37 and a 52-week high of $73.54. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.36 and a quick ratio of 2.36. The stock has a market capitalization of $3.55 billion, a P/E ratio of 28.91 and a beta of 1.29.

St. Joe Announces Dividend

The firm 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 21st. St. Joe’s dividend payout ratio is presently 32.99%.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, St. Joe currently has an average rating of “Hold”.

Insider Buying and Selling

In other news, major shareholder Bruce R. Berkowitz sold 189,200 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $65.78, for a total value of $12,445,576.00. Following the completion of the sale, the insider owned 15,884,424 shares in the company, valued at approximately $1,044,877,410.72. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 1,000,000 shares of company stock worth $65,585,733. 0.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Camelot Portfolios LLC acquired a new stake in St. Joe in the fourth quarter valued at about $30,000. EverSource Wealth Advisors LLC increased its position in St. Joe by 155.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 397 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of St. Joe during the 4th quarter worth approximately $32,000. Quarry LP acquired a new stake in shares of St. Joe in the 3rd quarter valued at approximately $39,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of St. Joe by 31.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock valued at $48,000 after buying an additional 236 shares during the period. 86.67% of the stock is currently owned by institutional investors and hedge funds.

St. Joe Company 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.