Legal & General Group Plc Takes $7.24 Million Position in St. Joe Company (The) $JOE

Legal & General Group Plc purchased a new position in shares of St. Joe Company (The) (NYSE:JOE) during the second quarter, HoldingsChannel reports. The firm purchased 115,548 shares of the financial services provider’s stock, valued at approximately $7,237,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of Wyoming acquired a new position in St. Joe during the 2nd quarter worth about $26,000. Kestra Advisory Services LLC acquired a new stake in shares of St. Joe in the fourth quarter valued at about $32,000. EverSource Wealth Advisors LLC increased its stake in shares of St. Joe by 155.7% in the second quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock valued at $31,000 after buying an additional 397 shares during the period. Quarry LP bought a new position in shares of St. Joe during the third quarter worth about $39,000. Finally, Aberdeen Wealth Management LLC bought a new position in shares of St. Joe during the second quarter worth about $51,000. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 140,400 shares of St. Joe 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 completion of the sale, the insider owned 15,073,624 shares in the company, valued at $990,487,833.04. The trade was a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 447,400 shares of company stock worth $29,269,387. Company insiders own 0.35% of the company’s stock.

St. Joe Stock Up 0.4%

Shares of NYSE:JOE opened at $65.29 on Thursday. St. Joe Company has a 1 year low of $46.37 and a 1 year high of $73.54. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.84 and a quick ratio of 1.84. The business’s 50-day moving average is $64.42 and its 200-day moving average is $65.90. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 30.51 and a beta of 1.29.

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

St. Joe Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 21st. St. Joe’s dividend payout ratio is presently 29.91%.

Analyst Upgrades and Downgrades

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

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.