Principal Financial Group Inc. increased its stake in St. Joe Company (The) (NYSE:JOE – Free Report) by 17.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 222,891 shares of the financial services provider’s stock after purchasing an additional 32,457 shares during the quarter. Principal Financial Group Inc.’s holdings in St. Joe were worth $13,998,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in JOE. Camelot Portfolios LLC acquired a new position in St. Joe during the fourth quarter worth about $30,000. Kestra Advisory Services LLC purchased a new stake in shares of St. Joe during the 4th quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its holdings in shares of St. Joe by 155.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 397 shares during the period. Quarry LP purchased a new position in St. Joe in the 3rd quarter valued at approximately $39,000. Finally, Smartleaf Asset Management LLC increased its stake in St. Joe by 31.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 236 shares in the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.
St. Joe Stock Performance
Shares of JOE opened at $62.22 on Friday. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.72. The stock has a market cap of $3.57 billion, a P/E ratio of 32.07 and a beta of 1.29. The company has a 50-day moving average of $63.33 and a two-hundred day moving average of $65.70. St. Joe Company has a 12-month low of $46.37 and a 12-month high of $73.54.
St. Joe Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Tuesday, June 9th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. St. Joe’s dividend payout ratio is presently 32.99%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings downgraded St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.
Check Out Our Latest Research Report on St. Joe
Insider Buying and Selling
In other St. Joe news, major shareholder Bruce R. Berkowitz sold 140,400 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $65.71, for a total transaction of $9,225,684.00. Following the completion of the transaction, the insider owned 15,073,624 shares of the company’s stock, valued at approximately $990,487,833.04. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 1,000,000 shares of company stock worth $65,585,733. 0.35% of the stock is currently owned by corporate insiders.
St. Joe Profile
The St. Joe Company (NYSE: JOE) is a leading real estate development and asset management firm focused on Northwest Florida. Headquartered in Jacksonville, the company owns and manages approximately 171,000 acres of land across Bay, Gulf, Franklin and Walton counties. St. Joe’s core businesses include residential community development, commercial real estate, and hospitality, with an emphasis on master-planned neighborhoods, office and retail campuses, resort hotels and mixed-use town centers.
Founded in 1936 as a paper manufacturing company, St.
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