Emmett Investment Management LP Purchases New Position in St. Joe Company (The) $JOE

Emmett Investment Management LP acquired a new stake in shares of St. Joe Company (The) (NYSE:JOE) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 26,618 shares of the financial services provider’s stock, valued at approximately $1,713,000. St. Joe comprises approximately 1.3% of Emmett Investment Management LP’s investment portfolio, making the stock its 23rd largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of JOE. EverSource Wealth Advisors LLC lifted its stake in shares of St. Joe by 39.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 679 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 193 shares during the last quarter. HRT Financial LP boosted its stake in shares of 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 acquiring an additional 213 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of St. Joe by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 7,428 shares of the financial services provider’s stock valued at $441,000 after acquiring an additional 218 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of 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 acquiring an additional 236 shares in the last quarter. Finally, Arete Wealth Advisors LLC raised its stake in shares of St. Joe by 5.3% in the 4th quarter. Arete Wealth Advisors LLC now owns 6,059 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 303 shares in the last quarter. Institutional investors own 86.67% of the company’s stock.

Analyst Ratings Changes

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 research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

St. Joe Stock Up 0.2%

JOE stock opened at $62.24 on Tuesday. St. Joe Company has a twelve month low of $46.37 and a twelve month 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. The company has a market cap of $3.57 billion, a PE ratio of 32.08 and a beta of 1.29. The business’s 50-day simple moving average is $63.26 and its 200 day simple moving average is $65.71.

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

St. Joe Dividend Announcement

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

Insider Activity at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 189,200 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $65.78, for a total value of $12,445,576.00. Following the completion of the transaction, the insider directly owned 15,884,424 shares of the company’s stock, valued at $1,044,877,410.72. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 1,000,000 shares of company stock valued at $65,585,733 in the last three months. Corporate insiders own 0.35% of the company’s stock.

About St. Joe

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.