St. Joe (NYSE:JOE) Announces Quarterly Earnings Results

St. Joe (NYSE:JOE) posted its earnings results on Wednesday. The financial services provider reported $0.71 EPS for the quarter, FiscalAI reports. The company had revenue of $158.86 million for the quarter. St. Joe had a return on equity of 14.59% and a net margin of 21.61%.

St. Joe Price Performance

Shares of JOE traded down $0.18 during mid-day trading on Wednesday, reaching $62.08. 193,178 shares of the company’s stock were exchanged, compared to its average volume of 237,879. 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 has a 52-week low of $46.37 and a 52-week high of $73.54. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 32.00 and a beta of 1.29. The company has a 50-day simple moving average of $63.25 and a two-hundred day simple moving average of $65.71.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut 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.com, the stock has a consensus rating of “Hold”.

Insider Transactions at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 140,400 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $65.71, for a total value of $9,225,684.00. Following 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 1,000,000 shares of company stock valued at $65,585,733. 0.35% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On St. Joe

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its stake in shares of St. Joe by 138.2% during the 4th quarter. SG Americas Securities LLC now owns 38,860 shares of the financial services provider’s stock worth $2,307,000 after purchasing an additional 22,547 shares during the last quarter. Horizon Investments LLC purchased a new stake in shares of St. Joe during the fourth quarter worth about $1,653,000. Principal Financial Group Inc. raised its position in shares of St. Joe by 17.0% in the first quarter. Principal Financial Group Inc. now owns 222,891 shares of the financial services provider’s stock valued at $13,998,000 after buying an additional 32,457 shares during the last quarter. Emmett Investment Management LP acquired a new position in shares of St. Joe in the first quarter valued at approximately $1,713,000. Finally, Legal & General Group Plc lifted its stake in shares of St. Joe by 15.9% during the fourth quarter. Legal & General Group Plc now owns 122,684 shares of the financial services provider’s stock valued at $7,284,000 after buying an additional 16,838 shares during the period. 86.67% of the stock is owned by institutional investors and hedge funds.

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.