Carmel Capital Partners LLC Sells 4,235 Shares of St. Joe Company (The) $JOE

Carmel Capital Partners LLC lessened its holdings in shares of St. Joe Company (The) (NYSE:JOE) by 50.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,204 shares of the financial services provider’s stock after selling 4,235 shares during the quarter. Carmel Capital Partners LLC’s holdings in St. Joe were worth $201,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in St. Joe by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 371,097 shares of the financial services provider’s stock worth $17,423,000 after buying an additional 6,538 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its position in St. Joe by 23.1% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 330,400 shares of the financial services provider’s stock worth $15,512,000 after buying an additional 62,000 shares during the last quarter. Principal Financial Group Inc. lifted its position in St. Joe by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 189,390 shares of the financial services provider’s stock worth $8,892,000 after buying an additional 4,324 shares during the last quarter. Nuveen LLC bought a new stake in St. Joe in the 1st quarter worth approximately $7,195,000. Finally, Public Sector Pension Investment Board lifted its position in St. Joe by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 120,371 shares of the financial services provider’s stock worth $5,651,000 after buying an additional 25,794 shares during the last quarter. Institutional investors own 86.67% of the company’s stock.

St. Joe Price Performance

Shares of St. Joe stock opened at $48.09 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.45 and a quick ratio of 1.45. The business’s 50 day simple moving average is $49.87 and its two-hundred day simple moving average is $47.55. The stock has a market capitalization of $2.78 billion, a P/E ratio of 33.86 and a beta of 1.31. St. Joe Company has a one year low of $40.19 and a one year high of $60.04.

St. Joe (NYSE:JOE) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.51 EPS for the quarter. The business had revenue of $129.10 million for the quarter. St. Joe had a return on equity of 11.19% and a net margin of 19.39%.

St. Joe Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 22nd were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 22nd. St. Joe’s payout ratio is 39.44%.

Insider Buying and Selling

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 167,500 shares of St. Joe stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $51.44, for a total value of $8,616,200.00. Following the transaction, the insider directly owned 16,634,024 shares of the company’s stock, valued at $855,654,194.56. The trade was a 1.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 616,000 shares of company stock valued at $31,340,145. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of St. Joe in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

About St. Joe

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.