Louisiana State Employees Retirement System Buys Shares of 17,700 St. Joe Company (The) $JOE

Louisiana State Employees Retirement System purchased a new stake in St. Joe Company (The) (NYSE:JOE) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,700 shares of the financial services provider’s stock, valued at approximately $1,112,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Camelot Portfolios LLC acquired a new stake in St. Joe in the 4th quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its holdings 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 purchasing an additional 397 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of St. Joe in the fourth quarter valued at approximately $32,000. Quarry LP acquired a new stake in shares of St. Joe in the third quarter valued at approximately $39,000. Finally, Smartleaf Asset Management LLC grew its position in shares of St. Joe by 31.8% in the second 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. Institutional investors and hedge funds own 86.67% of the company’s stock.

St. Joe Stock Down 0.1%

JOE opened at $61.25 on Friday. The firm has a market cap of $3.52 billion, a P/E ratio of 31.57 and a beta of 1.29. The business’s fifty day simple moving average is $65.00 and its 200 day simple moving average is $65.60. St. Joe Company has a 52 week low of $46.37 and a 52 week high of $73.54. 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 announced its earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share for the quarter. The firm had revenue of $99.04 million during the quarter. St. Joe had a net margin of 21.61% and a return on equity of 14.59%.

St. Joe Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Insider Buying and Selling at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 189,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $65.78, for a total transaction of $12,445,576.00. Following the transaction, the insider owned 15,884,424 shares of the company’s stock, valued at approximately $1,044,877,410.72. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 1,000,000 shares of company stock valued at $65,585,733 over the last ninety days. Insiders own 0.35% of the company’s stock.

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.