Wells Fargo & Company MN raised its stake in shares of St. Joe Co (NYSE:JOE) by 56.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,688 shares of the financial services provider’s stock after purchasing an additional 54,962 shares during the quarter. Wells Fargo & Company MN’s holdings in St. Joe were worth $2,860,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC acquired a new position in St. Joe during the 2nd quarter valued at approximately $184,654,000. State Street Corp increased its stake in St. Joe by 5.8% during the 2nd quarter. State Street Corp now owns 1,063,097 shares of the financial services provider’s stock valued at $19,937,000 after purchasing an additional 57,881 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in St. Joe during the 3rd quarter valued at approximately $526,000. JPMorgan Chase & Co. increased its stake in St. Joe by 116.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,961 shares of the financial services provider’s stock valued at $14,919,000 after purchasing an additional 416,198 shares in the last quarter. Finally, Fairholme Capital Management LLC boosted its holdings in shares of St. Joe by 4.4% in the 2nd quarter. Fairholme Capital Management LLC now owns 25,484,557 shares of the financial services provider’s stock valued at $477,835,000 after acquiring an additional 1,083,400 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.
In other St. Joe news, Director Howard S. Frank acquired 20,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were acquired at an average cost of $18.98 per share, with a total value of $379,600.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $379,600. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Fairholme Capital Management L acquired 200,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was acquired at an average cost of $18.83 per share, for a total transaction of $3,766,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 994,150 shares of company stock worth $18,380,258 over the last ninety days. Insiders own 33.83% of the company’s stock.
Several research firms have recently commented on JOE. Zacks Investment Research downgraded shares of St. Joe from a “strong-buy” rating to a “hold” rating in a report on Monday, October 16th. ValuEngine downgraded shares of St. Joe from a “hold” rating to a “sell” rating in a report on Sunday, December 31st.
Shares of St. Joe Co (NYSE JOE) opened at $17.95 on Friday. The company has a market cap of $1,190.00, a price-to-earnings ratio of 54.39 and a beta of 0.92. St. Joe Co has a twelve month low of $16.30 and a twelve month high of $19.90.
St. Joe (NYSE:JOE) last released its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.08 EPS for the quarter, beating the consensus estimate of $0.04 by $0.04. The business had revenue of $33.60 million for the quarter, compared to the consensus estimate of $25.80 million. St. Joe had a net margin of 24.82% and a return on equity of 3.71%. analysts predict that St. Joe Co will post 0.25 EPS for the current year.
St. Joe announced that its Board of Directors has initiated a share buyback program on Thursday, September 21st that permits the company to buyback $66.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 5.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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St. Joe Profile
The St. Joe Company is a real estate development, asset management and operating company. The Company operates through five segments: residential real estate; commercial real estate; resorts and leisure; leasing operations, and forestry. Its residential real estate segment plans and develops primary residential and resort residential communities of various sizes on its existing land.
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