Fairholme Capital Management LLC Lowers Stock Holdings in St. Joe Company (The) $JOE

Fairholme Capital Management LLC cut its stake in St. Joe Company (The) (NYSE:JOE) by 3.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 19,578,367 shares of the financial services provider’s stock after selling 625,800 shares during the quarter. St. Joe makes up about 78.2% of Fairholme Capital Management LLC’s holdings, making the stock its biggest holding. Fairholme Capital Management LLC owned about 0.34% of St. Joe worth $968,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Consulate Inc. acquired a new stake in St. Joe in the 3rd quarter valued at $31,000. EverSource Wealth Advisors LLC grew its holdings in shares of St. Joe by 155.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 397 shares during the last quarter. Smartleaf Asset Management LLC increased its position 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 worth $48,000 after purchasing an additional 236 shares in the last quarter. GAMMA Investing LLC increased its position in shares of St. Joe by 21.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,573 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 278 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in St. Joe by 6.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,890 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 237 shares during the last quarter. Institutional investors own 86.67% of the company’s stock.

St. Joe Stock Performance

Shares of NYSE:JOE opened at $70.57 on Monday. The business has a fifty day moving average of $67.59 and a 200-day moving average of $59.26. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.68 and a current ratio of 2.68. St. Joe Company has a twelve month low of $40.19 and a twelve month high of $73.54. The firm has a market cap of $4.06 billion, a PE ratio of 35.29 and a beta of 1.30.

St. Joe (NYSE:JOE) last issued its quarterly earnings results on Wednesday, February 25th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter. St. Joe had a net margin of 22.52% and a return on equity of 15.23%. The business had revenue of $128.89 million for the quarter.

St. Joe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 9th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. St. Joe’s payout ratio is currently 32.00%.

Insider Activity

In other news, major shareholder Bruce R. Berkowitz sold 87,700 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $65.51, for a total transaction of $5,745,227.00. Following the sale, the insider directly owned 16,165,024 shares of the company’s stock, valued at $1,058,970,722.24. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 170,900 shares of company stock worth $11,521,497 in the last quarter. 38.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of St. Joe in a research report on Monday, December 29th. Wall Street Zen cut shares of St. Joe from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Buy rating, According to MarketBeat, St. Joe presently has an average rating of “Buy”.

St. Joe Company 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.