Prospera Financial Services Inc Purchases New Shares in St. Joe Company (The) $JOE

Prospera Financial Services Inc acquired a new position in St. Joe Company (The) (NYSE:JOE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 46,620 shares of the financial services provider’s stock, valued at approximately $2,224,000.

Several other hedge funds have also recently modified their holdings of JOE. Nuveen LLC bought a new position in shares of St. Joe in the first quarter valued at approximately $7,195,000. Invesco Ltd. grew its stake in St. Joe by 84.5% in the 1st quarter. Invesco Ltd. now owns 114,888 shares of the financial services provider’s stock valued at $5,394,000 after purchasing an additional 52,603 shares during the period. Cutter & CO Brokerage Inc. purchased a new stake in shares of St. Joe during the 1st quarter valued at $2,379,000. AQR Capital Management LLC raised its stake in shares of St. Joe by 152.4% during the 1st quarter. AQR Capital Management LLC now owns 76,084 shares of the financial services provider’s stock worth $3,572,000 after purchasing an additional 45,939 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of St. Joe by 67.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 100,951 shares of the financial services provider’s stock worth $4,740,000 after buying an additional 40,634 shares during the last quarter. Institutional investors own 86.67% of the company’s stock.

Insider Activity at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 167,500 shares of St. Joe stock in a transaction 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 completion of the transaction, the insider directly owned 16,634,024 shares in the company, valued at approximately $855,654,194.56. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 476,900 shares of company stock valued at $24,305,858 over the last three months. 0.32% of the stock is owned by company insiders.

St. Joe Price Performance

NYSE JOE opened at $58.59 on Tuesday. The company has a market cap of $3.38 billion, a PE ratio of 32.55 and a beta of 1.44. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.81. The firm’s 50-day simple moving average is $51.04 and its two-hundred day simple moving average is $48.93. St. Joe Company has a 52 week low of $40.19 and a 52 week high of $59.70.

St. Joe (NYSE:JOE) last posted its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter. The company had revenue of $161.10 million for the quarter. St. Joe had a net margin of 21.40% and a return on equity of 14.10%.

St. Joe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Thursday, November 13th will be given a dividend of $0.16 per share. This is an increase from St. Joe’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, November 13th. St. Joe’s dividend payout ratio (DPR) is currently 35.56%.

Analysts Set New Price Targets

JOE has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of St. Joe in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of St. Joe from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

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.