The Manufacturers Life Insurance Company Takes $1.33 Million Position in St. Joe Company (The) $JOE

The Manufacturers Life Insurance Company acquired a new stake in shares of St. Joe Company (The) (NYSE:JOE) in the second quarter, HoldingsChannel reports. The institutional investor acquired 21,215 shares of the financial services provider’s stock, valued at approximately $1,329,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aberdeen Wealth Management LLC bought a new stake in St. Joe during the 2nd quarter worth approximately $51,000. Algert Global LLC boosted its position in shares of St. Joe by 6.4% in the second quarter. Algert Global LLC now owns 104,099 shares of the financial services provider’s stock worth $6,520,000 after purchasing an additional 6,250 shares during the period. Nitor Capital Management LLC purchased a new stake in shares of St. Joe in the second quarter worth $32,974,000. Quantbot Technologies LP purchased a new stake in shares of St. Joe in the second quarter worth $365,000. Finally, Ieq Capital LLC bought a new stake in shares of St. Joe during the 2nd quarter valued at $1,884,000. Institutional investors own 86.67% of the company’s stock.

Insider Transactions at St. Joe

In other St. Joe news, major shareholder Bruce Berkowitz sold 140,400 shares of the business’s 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 413,800 shares of company stock valued at $27,079,339. Insiders own 0.35% of the company’s stock.

St. Joe Price Performance

NYSE JOE opened at $66.07 on Friday. The stock’s 50 day moving average is $64.41 and its 200 day moving average is $65.87. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.71. St. Joe Company has a 12 month low of $46.37 and a 12 month high of $73.54. The stock has a market cap of $3.76 billion, a PE ratio of 30.87 and a beta of 1.29.

St. Joe (NYSE:JOE) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.71 earnings per share 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 21st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 21st. St. Joe’s dividend payout ratio (DPR) is presently 29.91%.

Analysts Set New Price Targets

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

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.