St. Joe (NYSE:JOE) Sets New 1-Year High – Here’s What Happened
by Doug Wharley · The Cerbat GemShares of St. Joe Company (The) (NYSE:JOE – Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $66.08 and last traded at $65.0950, with a volume of 180681 shares traded. The stock had previously closed at $65.39.
Analyst Ratings Changes
A number of brokerages have issued reports on JOE. Wall Street Zen upgraded shares of St. Joe from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “buy (b-)” rating on shares of St. Joe in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.
Read Our Latest Research Report on JOE
St. Joe Price Performance
The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.75. The stock’s 50 day moving average price is $60.20 and its two-hundred day moving average price is $53.80. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 36.16 and a beta of 1.32.
St. Joe (NYSE:JOE – Get Free Report) last posted its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $0.67 EPS for the quarter. The company had revenue of $161.08 million for the quarter. St. Joe had a net margin of 21.40% and a return on equity of 13.96%.
St. Joe Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Thursday, November 13th were given a dividend of $0.16 per share. This is an increase from St. Joe’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, November 13th. St. Joe’s dividend payout ratio (DPR) is 35.56%.
Insider Buying and Selling
In other news, major shareholder Bruce R. Berkowitz sold 6,100 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $62.00, for a total transaction of $378,200.00. Following the sale, the insider owned 16,252,724 shares of the company’s stock, valued at $1,007,668,888. This trade represents a 0.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 71,900 shares of company stock valued at $4,480,854. Corporate insiders own 38.80% of the company’s stock.
Institutional Trading of St. Joe
Hedge funds have recently added to or reduced their stakes in the company. HRT Financial LP raised its position in shares of St. Joe by 0.7% in the second quarter. HRT Financial LP now owns 32,349 shares of the financial services provider’s stock worth $1,543,000 after acquiring an additional 213 shares during the period. GAMMA Investing LLC increased its stake in shares of St. Joe by 21.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,295 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 226 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in St. Joe by 31.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 236 shares during the period. Ameritas Investment Partners Inc. boosted its position in St. Joe by 6.5% during the second quarter. Ameritas Investment Partners Inc. now owns 3,890 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 237 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its position in St. Joe by 8.3% during the third quarter. Cresset Asset Management LLC now owns 4,876 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 373 shares in the last quarter. 86.67% of the stock is owned by hedge funds and other institutional investors.
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.