Legal & General Group Plc Raises Stake in St. Joe Company (The) $JOE

Legal & General Group Plc increased its stake in shares of St. Joe Company (The) (NYSE:JOE) by 15.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 122,684 shares of the financial services provider’s stock after buying an additional 16,838 shares during the period. Legal & General Group Plc’s holdings in St. Joe were worth $7,284,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Camelot Portfolios LLC purchased a new stake in St. Joe during the 4th quarter worth about $30,000. EverSource Wealth Advisors LLC lifted its holdings 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 in the last quarter. Quarry LP purchased a new stake in shares of St. Joe in the 3rd quarter valued at about $39,000. Smartleaf Asset Management LLC raised 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 acquiring an additional 236 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of St. Joe by 362.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,120 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 878 shares in the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

St. Joe Stock Performance

NYSE:JOE opened at $64.86 on Friday. The business’s 50-day moving average price is $65.54 and its two-hundred day moving average price is $64.92. St. Joe Company has a twelve month low of $45.66 and a twelve month high of $73.54. The stock has a market cap of $3.72 billion, a P/E ratio of 33.43 and a beta of 1.28. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.72.

St. Joe (NYSE:JOE) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share for the quarter. St. Joe had a return on equity of 14.59% and a net margin of 21.61%.The firm had revenue of $99.04 million for the quarter.

St. Joe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 9th. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. St. Joe’s dividend payout ratio is 32.99%.

Wall Street Analyst Weigh In

Several analysts have weighed in on JOE shares. Wall Street Zen cut St. Joe from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings cut St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Insider Activity at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 189,200 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $65.78, for a total transaction of $12,445,576.00. Following the transaction, the insider directly owned 15,884,424 shares in the company, valued at approximately $1,044,877,410.72. This represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 514,600 shares of company stock worth $33,993,369. 0.35% of the stock is currently owned by corporate insiders.

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.