NewEdge Advisors LLC Trims Stake in St. Joe Company (The) $JOE

NewEdge Advisors LLC reduced its stake in St. Joe Company (The) (NYSE:JOE) by 57.9% during the first quarter, Holdings Channel.com reports. The firm owned 10,224 shares of the financial services provider’s stock after selling 14,066 shares during the quarter. NewEdge Advisors LLC’s holdings in St. Joe were worth $642,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of JOE. Camelot Portfolios LLC bought a new stake in St. Joe during the fourth quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its position in shares of St. Joe by 155.7% during 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 in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of St. Joe during the 4th quarter valued at about $32,000. Quarry LP bought a new position in shares of St. Joe during the 3rd quarter valued at approximately $39,000. Finally, Smartleaf Asset Management LLC grew 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 period. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 140,400 shares of the stock in a transaction dated Thursday, June 18th. The stock was 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 in the company, valued at approximately $990,487,833.04. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 506,500 shares of company stock valued at $33,116,206 over the last three months. Corporate insiders own 0.35% of the company’s stock.

St. Joe Stock Down 1.4%

JOE opened at $69.00 on Friday. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 32.24 and a beta of 1.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.84 and a current ratio of 1.84. The firm’s fifty day moving average is $63.97 and its 200 day moving average is $65.90. St. Joe Company has a fifty-two week low of $46.37 and a fifty-two week high of $73.54.

St. Joe (NYSE:JOE) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.71 earnings per share (EPS) 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 21st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. St. Joe’s dividend payout ratio is 29.91%.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of St. Joe from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy”.

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.