Sterling Investment Management LLC Acquires New Shares in The St. Joe Company (NYSE:JOE)

Sterling Investment Management LLC acquired a new stake in The St. Joe Company (NYSE:JOE) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 21,249 shares of the financial services provider’s stock, valued at approximately $998,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JOE. Smartleaf Asset Management LLC raised its stake in St. Joe by 277.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 585 shares of the financial services provider’s stock valued at $26,000 after buying an additional 430 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in St. Joe in the 4th quarter worth $38,000. Campbell Capital Management Inc. bought a new position in shares of St. Joe during the 4th quarter valued at about $67,000. XTX Topco Ltd bought a new position in shares of St. Joe during the 4th quarter valued at about $210,000. Finally, Legacy Capital Group California Inc. boosted its holdings in shares of St. Joe by 12.4% during the 4th quarter. Legacy Capital Group California Inc. now owns 4,899 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 540 shares during the last quarter. 86.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of St. Joe from a “buy” rating to a “hold” rating in a report on Sunday.

Insider Activity at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 2,900 shares of St. Joe stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $47.01, for a total transaction of $136,329.00. Following the transaction, the insider now directly owns 16,940,624 shares of the company’s stock, valued at $796,378,734.24. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 38.80% of the stock is currently owned by corporate insiders.

St. Joe Stock Performance

St. Joe stock opened at $47.16 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.34 and a quick ratio of 1.34. The St. Joe Company has a 1-year low of $40.19 and a 1-year high of $64.69. The firm has a market capitalization of $2.75 billion, a P/E ratio of 39.97 and a beta of 1.36. The company’s 50-day moving average is $43.82 and its 200 day moving average is $45.87.

St. Joe (NYSE:JOE) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.30 earnings per share for the quarter. The company had revenue of $94.20 million for the quarter. St. Joe had a net margin of 17.76% and a return on equity of 9.58%.

St. Joe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Tuesday, June 10th. St. Joe’s dividend payout ratio (DPR) is presently 42.11%.

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.