Canada Pension Plan Investment Board Takes Position in St. Joe Company (The) $JOE

Canada Pension Plan Investment Board purchased a new stake in St. Joe Company (The) (NYSE:JOE) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 13,700 shares of the financial services provider’s stock, valued at approximately $858,000.

A number of other large investors have also added to or reduced their stakes in JOE. Horizon Investments LLC bought a new stake in shares of St. Joe during the 4th quarter valued at $1,653,000. BlackRock Inc. bought a new stake in St. Joe during the second quarter worth about $385,050,000. Principal Financial Group Inc. lifted its position in St. Joe by 17.0% during the first quarter. Principal Financial Group Inc. now owns 222,891 shares of the financial services provider’s stock worth $13,998,000 after purchasing an additional 32,457 shares during the period. First Trust Advisors LP grew its stake in St. Joe by 277.2% during the first quarter. First Trust Advisors LP now owns 127,557 shares of the financial services provider’s stock worth $8,011,000 after buying an additional 93,736 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in St. Joe by 516.9% during the first quarter. Renaissance Technologies LLC now owns 54,900 shares of the financial services provider’s stock worth $3,448,000 after buying an additional 46,000 shares in the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

Analyst Upgrades and Downgrades

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”.

Insider Transactions at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 140,400 shares of St. Joe stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $65.71, for a total transaction of $9,225,684.00. Following the sale, the insider directly owned 15,073,624 shares in the company, valued at $990,487,833.04. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 506,500 shares of company stock valued at $33,116,206. 0.35% of the stock is owned by company insiders.

St. Joe Trading Down 1.6%

Shares of St. Joe stock opened at $66.21 on Tuesday. The firm’s 50 day moving average is $64.47 and its 200 day moving average is $65.94. The firm has a market capitalization of $3.77 billion, a PE ratio of 30.94 and a beta of 1.29. St. Joe Company has a 1 year low of $46.37 and a 1 year high of $73.54. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.71.

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

St. Joe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 21st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, August 21st. St. Joe’s dividend payout ratio (DPR) is 29.91%.

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.