Front Street Capital Management Inc. Reduces Holdings in The St. Joe Company (NYSE:JOE)

Front Street Capital Management Inc. trimmed its holdings in The St. Joe Company (NYSE:JOE) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 505,852 shares of the financial services provider’s stock after selling 17,878 shares during the period. St. Joe comprises about 5.3% of Front Street Capital Management Inc.’s holdings, making the stock its 8th largest position. Front Street Capital Management Inc. owned approximately 0.87% of St. Joe worth $27,670,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Bank of Montreal Can lifted its stake in shares of St. Joe by 27.1% in the second quarter. Bank of Montreal Can now owns 10,775 shares of the financial services provider’s stock valued at $590,000 after buying an additional 2,296 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of St. Joe by 7.3% during the second quarter. Public Sector Pension Investment Board now owns 78,336 shares of the financial services provider’s stock valued at $4,285,000 after purchasing an additional 5,350 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of St. Joe by 86.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,101 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 512 shares in the last quarter. Callan Capital LLC bought a new position in shares of St. Joe during the second quarter valued at about $633,000. Finally, Intech Investment Management LLC bought a new position in shares of St. Joe during the second quarter valued at about $257,000. 86.67% of the stock is owned by institutional investors.

St. Joe Stock Up 0.2 %

JOE opened at $60.42 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.33 and a quick ratio of 1.33. The company’s 50-day moving average is $59.32 and its 200 day moving average is $57.07. The St. Joe Company has a fifty-two week low of $45.93 and a fifty-two week high of $64.69. The firm has a market capitalization of $3.53 billion, a P/E ratio of 43.16 and a beta of 1.26.

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

St. Joe Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 9th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from St. Joe’s previous quarterly dividend of $0.12. St. Joe’s dividend payout ratio (DPR) is 40.00%.

Insider Buying and Selling

In related news, Director Bruce R. Berkowitz sold 97,200 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $60.34, for a total transaction of $5,865,048.00. Following the completion of the sale, the director now owns 17,878,924 shares in the company, valued at $1,078,814,274.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Bruce R. Berkowitz sold 54,100 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $60.39, for a total transaction of $3,267,099.00. Following the completion of the sale, the director now owns 17,976,124 shares in the company, valued at $1,085,578,128.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Berkowitz sold 97,200 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $60.34, for a total transaction of $5,865,048.00. Following the sale, the director now owns 17,878,924 shares of the company’s stock, valued at approximately $1,078,814,274.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 285,000 shares of company stock worth $17,558,573. Insiders own 38.80% of the company’s stock.

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.