Gabelli Funds LLC reduced its position in shares of The St. Joe Company (NYSE:JOE – Free Report) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 889,000 shares of the financial services provider’s stock after selling 4,500 shares during the quarter. Gabelli Funds LLC owned 1.52% of St. Joe worth $42,974,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Money Concepts Capital Corp purchased a new position in St. Joe during the fourth quarter worth approximately $26,000. CWM LLC grew its stake in St. Joe by 243.9% in the 2nd quarter. CWM LLC now owns 564 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 400 shares during the period. Quadrant Capital Group LLC increased its holdings in St. Joe by 238.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 741 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 522 shares in the last quarter. Tower Research Capital LLC TRC raised its position in St. Joe by 93.8% during the first quarter. Tower Research Capital LLC TRC now owns 909 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 440 shares during the period. Finally, First Manhattan CO. LLC. acquired a new position in St. Joe during the first quarter worth $42,000. 88.56% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, StockNews.com assumed coverage on shares of St. Joe in a research note on Thursday, October 5th. They set a “hold” rating for the company.
St. Joe Stock Up 0.9 %
Shares of St. Joe stock traded up $0.48 during mid-day trading on Friday, reaching $53.18. 156,196 shares of the stock traded hands, compared to its average volume of 242,912. The stock has a market capitalization of $3.10 billion, a PE ratio of 33.45 and a beta of 1.35. The business has a 50-day moving average of $52.32 and a 200 day moving average of $52.08. The St. Joe Company has a fifty-two week low of $34.75 and a fifty-two week high of $65.99.
St. Joe (NYSE:JOE – Get Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.33 EPS for the quarter. St. Joe had a return on equity of 13.83% and a net margin of 25.43%. The firm had revenue of $101.40 million during the quarter.
St. Joe Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 9th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.90%. St. Joe’s payout ratio is presently 30.19%.
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 plans and develops residential communities of various sizes for homebuilders or retail consumers.
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