Punch & Associates Investment Management Inc. Buys Shares of 376,859 St. Joe Company (The) $JOE

Punch & Associates Investment Management Inc. purchased a new position in shares of St. Joe Company (The) (NYSE:JOE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 376,859 shares of the financial services provider’s stock, valued at approximately $23,603,000. St. Joe accounts for about 1.2% of Punch & Associates Investment Management Inc.’s investment portfolio, making the stock its 25th largest holding.

Several other hedge funds have also made changes to their positions in JOE. EverSource Wealth Advisors LLC grew its holdings in shares of St. Joe by 24.7% in the first quarter. EverSource Wealth Advisors LLC now owns 847 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 168 shares in the last quarter. HRT Financial LP lifted its holdings in St. Joe by 0.7% during the 2nd quarter. HRT Financial LP now owns 32,349 shares of the financial services provider’s stock worth $1,543,000 after buying an additional 213 shares in the last quarter. ProShare Advisors LLC boosted its position in St. Joe by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 7,428 shares of the financial services provider’s stock valued at $441,000 after buying an additional 218 shares during the period. Smartleaf Asset Management LLC boosted its position 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 valued at $48,000 after buying an additional 236 shares during the period. Finally, Arete Wealth Advisors LLC grew its stake in shares of St. Joe by 5.3% in the fourth quarter. Arete Wealth Advisors LLC now owns 6,059 shares of the financial services provider’s stock worth $360,000 after acquiring an additional 303 shares in the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

Insider Activity at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 140,400 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $65.71, for a total value of $9,225,684.00. Following the sale, the insider directly owned 15,073,624 shares in the company, valued at approximately $990,487,833.04. This trade represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 506,500 shares of company stock valued at $33,116,206. Corporate insiders own 0.35% of the company’s stock.

St. Joe Stock Performance

Shares of JOE opened at $69.06 on Thursday. The stock has a 50-day simple moving average of $64.38 and a 200-day simple moving average of $65.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market capitalization of $3.93 billion, a PE ratio of 32.27 and a beta of 1.29. St. Joe Company has a 1 year low of $46.37 and a 1 year high of $73.54.

St. Joe (NYSE:JOE) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.71 earnings per share for the quarter. The firm had revenue of $158.86 million for the quarter. St. Joe had a net margin of 22.45% and a return on equity of 15.90%.

St. Joe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, August 21st. St. Joe’s payout ratio is 29.91%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised St. Joe from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, St. Joe presently has a consensus rating of “Buy”.

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.