St. Joe Company (The) $JOE Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its stake in St. Joe Company (The) (NYSE:JOE) by 13.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 520,400 shares of the financial services provider’s stock after selling 80,100 shares during the quarter. Gabelli Funds LLC’s holdings in St. Joe were worth $32,681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in St. Joe by 39.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 679 shares of the financial services provider’s stock worth $40,000 after buying an additional 193 shares in the last quarter. HRT Financial LP grew its position in St. Joe by 0.7% during the second quarter. HRT Financial LP now owns 32,349 shares of the financial services provider’s stock worth $1,543,000 after buying an additional 213 shares during the period. ProShare Advisors LLC increased its holdings in St. Joe by 3.0% in the fourth quarter. ProShare Advisors LLC now owns 7,428 shares of the financial services provider’s stock valued at $441,000 after buying an additional 218 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in St. Joe by 31.8% in the second quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock valued at $48,000 after buying an additional 236 shares in the last quarter. Finally, Arete Wealth Advisors LLC lifted its position in shares of St. Joe by 5.3% during 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 during the period. Institutional investors and hedge funds own 86.67% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, St. Joe presently has an average rating of “Hold”.

Insiders Place Their Bets

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 189,200 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $65.78, for a total transaction of $12,445,576.00. Following the completion of the transaction, the insider directly owned 15,884,424 shares in the company, valued at approximately $1,044,877,410.72. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 1,000,000 shares of company stock worth $65,585,733. Company insiders own 0.35% of the company’s stock.

St. Joe Stock Up 0.1%

St. Joe stock opened at $62.20 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.36 and a current ratio of 2.36. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 32.06 and a beta of 1.29. St. Joe Company has a fifty-two week low of $46.37 and a fifty-two week high of $73.54. The stock’s fifty day moving average is $63.30 and its two-hundred day moving average is $65.68.

St. Joe (NYSE:JOE) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share for the quarter. The business 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 Dividend Announcement

The firm also recently disclosed 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 yield of 1.0%. The ex-dividend date of this dividend was Tuesday, June 9th. St. Joe’s dividend payout ratio is presently 32.99%.

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.