Gabelli Funds LLC Has $40.79 Million Stake in The St. Joe Company (NYSE:JOE)

Gabelli Funds LLC lowered its stake in shares of The St. Joe Company (NYSE:JOE) by 1.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 745,700 shares of the financial services provider’s stock after selling 14,300 shares during the period. Gabelli Funds LLC owned approximately 1.28% of St. Joe worth $40,790,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in JOE. Private Advisor Group LLC acquired a new position in St. Joe during the 4th quarter valued at about $249,000. Charles Schwab Investment Management Inc. boosted its stake in shares of St. Joe by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 289,875 shares of the financial services provider’s stock worth $17,445,000 after buying an additional 7,581 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of St. Joe in the 4th quarter worth approximately $326,000. Norges Bank purchased a new position in St. Joe in the fourth quarter valued at approximately $13,952,000. Finally, Wells Fargo & Company MN lifted its stake in St. Joe by 3.5% in the fourth quarter. Wells Fargo & Company MN now owns 186,939 shares of the financial services provider’s stock valued at $11,250,000 after purchasing an additional 6,304 shares during the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

Insider Buying and Selling at St. Joe

In other St. Joe news, Director Bruce R. Berkowitz sold 54,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $63.76, for a total transaction of $3,443,040.00. Following the sale, the director now owns 18,200,624 shares of the company’s stock, valued at approximately $1,160,471,786.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Bruce R. Berkowitz sold 97,200 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $60.34, for a total value of $5,865,048.00. Following the transaction, the director now owns 17,878,924 shares of the company’s stock, valued at $1,078,814,274.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Berkowitz sold 54,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $63.76, for a total transaction of $3,443,040.00. Following the completion of the transaction, the director now directly owns 18,200,624 shares in the company, valued at approximately $1,160,471,786.24. The disclosure for this sale can be found here. Insiders have sold 285,000 shares of company stock valued at $17,558,573 in the last 90 days. 38.80% of the stock is currently owned by company insiders.

St. Joe Price Performance

St. Joe stock opened at $60.30 on Friday. The St. Joe Company has a 12 month low of $45.93 and a 12 month high of $64.69. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.87. The business’s 50 day simple moving average is $59.29 and its 200 day simple moving average is $56.98. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 43.07 and a beta of 1.26.

St. Joe (NYSE:JOE) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.42 EPS for the quarter. St. Joe had a return on equity of 10.07% and a net margin of 18.32%. The business had revenue of $111.60 million for the quarter.

St. Joe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 9th were issued a dividend of $0.14 per share. This is a boost from St. Joe’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, August 9th. This represents a $0.56 dividend on an annualized basis and a yield of 0.93%. St. Joe’s payout ratio is presently 40.00%.

St. Joe Profile

The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Northwest Florida. It operates through three segments: Residential, Hospitality, and Commercial. The Residential segment engages in the development of communities into homesites for sale to homebuilders and on a limited basis to retail customers.