Deutsche Bank AG Invests $2.62 Million in St. Joe Company (The) $JOE

Deutsche Bank AG acquired a new stake in shares of St. Joe Company (The) (NYSE:JOE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 41,829 shares of the financial services provider’s stock, valued at approximately $2,620,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. State of Wyoming acquired a new stake in St. Joe in the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of St. Joe by 155.7% during the second 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 in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of St. Joe during the fourth quarter worth about $32,000. Quarry LP purchased a new stake in shares of St. Joe in the third quarter worth about $39,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of St. Joe by 31.8% in 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 during the period. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 140,400 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 15,073,624 shares of the company’s stock, valued at approximately $990,487,833.04. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 506,500 shares of company stock valued at $33,116,206 in the last ninety days. Company insiders own 0.35% of the company’s stock.

St. Joe Stock Down 1.4%

St. Joe stock opened at $68.16 on Friday. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 31.85 and a beta of 1.29. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $64.42 and its two-hundred day moving average price is $65.98. St. Joe Company has a 52 week low of $46.37 and a 52 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. St. Joe had a return on equity of 15.90% and a net margin of 22.45%.The company had revenue of $158.86 million for the quarter.

St. Joe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a yield of 0.9%. St. Joe’s dividend payout ratio is currently 29.91%.

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.