Front Street Capital Management Inc. Has $17.77 Million Stake in St. Joe Company (The) $JOE

Front Street Capital Management Inc. lowered its holdings in St. Joe Company (The) (NYSE:JOE) by 14.3% in the first quarter, HoldingsChannel.com reports. The firm owned 282,984 shares of the financial services provider’s stock after selling 47,365 shares during the quarter. St. Joe comprises approximately 2.3% of Front Street Capital Management Inc.’s holdings, making the stock its 16th biggest holding. Front Street Capital Management Inc.’s holdings in St. Joe were worth $17,771,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of St. Joe by 24.7% during the first quarter. EverSource Wealth Advisors LLC now owns 847 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 168 shares during the period. HRT Financial LP boosted its stake in shares of St. Joe by 0.7% in the second quarter. HRT Financial LP now owns 32,349 shares of the financial services provider’s stock valued at $1,543,000 after buying an additional 213 shares during the period. ProShare Advisors LLC boosted its stake in shares of 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 during the period. Smartleaf Asset Management LLC grew its position in St. Joe by 31.8% during the second quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock worth $48,000 after buying an additional 236 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its stake in 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 worth $360,000 after acquiring an additional 303 shares during the period. Institutional investors and hedge funds own 86.67% of the company’s stock.

St. Joe Trading Up 2.0%

Shares of St. Joe stock opened at $63.14 on Friday. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 29.51 and a beta of 1.29. 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 Company has a 12-month low of $46.37 and a 12-month high of $73.54. The firm’s 50-day moving average price is $63.17 and its two-hundred day moving average price is $65.70.

St. Joe (NYSE:JOE) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $0.71 EPS for the quarter. St. Joe had a net margin of 22.45% and a return on equity of 15.90%. The company had revenue of $158.86 million during the quarter.

St. Joe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 21st will be 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 is Friday, August 21st. St. Joe’s dividend payout ratio (DPR) is 32.99%.

Insider Transactions at St. Joe

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

Analysts Set New Price Targets

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

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.