Louisiana State Employees Retirement System Takes Position in St. Joe Company (The) $JOE

Louisiana State Employees Retirement System bought a new stake in St. Joe Company (The) (NYSE:JOE) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 17,700 shares of the financial services provider’s stock, valued at approximately $1,112,000.

Several other institutional investors have also recently added to or reduced their stakes in JOE. Camelot Portfolios LLC purchased a new position in St. Joe during the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC grew its holdings in St. Joe by 155.7% in the 2nd 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. Kestra Advisory Services LLC purchased a new stake in St. Joe in the 4th quarter valued at about $32,000. Quarry LP acquired a new position in shares of St. Joe during the 3rd quarter valued at about $39,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of St. Joe by 31.8% during 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 during the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

St. Joe Trading Down 0.1%

JOE stock opened at $61.25 on Friday. St. Joe Company has a 52 week low of $46.37 and a 52 week high of $73.54. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 31.57 and a beta of 1.29. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $65.00 and a 200-day simple moving average of $65.60.

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

St. Joe Announces Dividend

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

Insider Activity

In related news, major shareholder Bruce R. Berkowitz sold 140,400 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $65.71, for a total transaction of $9,225,684.00. Following the completion of the sale, the insider owned 15,073,624 shares of the company’s stock, valued at approximately $990,487,833.04. This represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 1,000,000 shares of company stock worth $65,585,733. 0.35% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.