St. Joe (NYSE:JOE) Sets New 1-Year High – Here’s Why

Shares of St. Joe Company (The) (NYSE:JOE) reached a new 52-week high on Wednesday . The company traded as high as $59.57 and last traded at $58.8340, with a volume of 239098 shares changing hands. The stock had previously closed at $58.73.

Wall Street Analysts Forecast Growth

JOE has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of St. Joe from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Weiss Ratings reissued a “hold (c)” rating on shares of St. Joe in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, St. Joe presently has a consensus rating of “Hold”.

St. Joe Price Performance

The business’s 50 day moving average is $50.72 and its two-hundred day moving average is $48.59. The firm has a market capitalization of $3.38 billion, a PE ratio of 32.53 and a beta of 1.44. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.45 and a quick ratio of 1.45.

St. Joe (NYSE:JOE) last released its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $0.67 EPS for the quarter. The business had revenue of $161.10 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. Investors of record on Thursday, November 13th will be paid a $0.16 dividend. This is a boost 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%. The ex-dividend date of this dividend is Thursday, November 13th. St. Joe’s payout ratio is currently 35.56%.

Insiders Place Their Bets

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 104,100 shares of St. Joe stock in a transaction dated 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 completion of the sale, the insider owned 16,324,624 shares of the company’s stock, valued at $833,861,793.92. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 616,000 shares of company stock worth $31,340,145 in the last quarter. Company insiders own 38.80% of the company’s stock.

Institutional Trading of St. Joe

Hedge funds have recently bought and sold shares of the company. Financial Consulate Inc. purchased a new stake in St. Joe in the third quarter worth approximately $31,000. EverSource Wealth Advisors LLC lifted its holdings in shares of St. Joe by 155.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 397 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of St. Joe by 2,265.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 686 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 657 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of St. Joe by 31.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 236 shares during the last quarter. Finally, MAI Capital Management raised its position in St. Joe by 120.8% in 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 period. Institutional investors own 86.67% of the company’s stock.

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.