Arete Wealth Advisors LLC Raises Stock Position in The St. Joe Company (NYSE:JOE)

Arete Wealth Advisors LLC lifted its stake in shares of The St. Joe Company (NYSE:JOE) by 8.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,804 shares of the financial services provider’s stock after acquiring an additional 356 shares during the quarter. Arete Wealth Advisors LLC’s holdings in St. Joe were worth $279,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in shares of St. Joe during the third quarter worth approximately $35,000. Quest Partners LLC increased its position in shares of St. Joe by 72,300.0% during the second quarter. Quest Partners LLC now owns 724 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 723 shares during the period. Blue Trust Inc. increased its position in shares of St. Joe by 549.1% during the third quarter. Blue Trust Inc. now owns 727 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 615 shares during the period. nVerses Capital LLC increased its position in shares of St. Joe by 100.0% during the second quarter. nVerses Capital LLC now owns 800 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 400 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of St. Joe by 86.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,101 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 512 shares during the period. 86.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at St. Joe

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $53.14, for a total value of $4,251,200.00. Following the completion of the sale, the insider now directly owns 17,797,824 shares in the company, valued at $945,776,367.36. This trade represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jorge Luis Gonzalez bought 1,695 shares of the stock in a transaction on Friday, October 25th. The stock was purchased at an average price of $53.05 per share, with a total value of $89,919.75. Following the completion of the purchase, the chief executive officer now owns 60,093 shares of the company’s stock, valued at $3,187,933.65. This represents a 2.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 449,400 shares of company stock valued at $23,953,600 over the last ninety days. 38.80% of the stock is owned by company insiders.

St. Joe Stock Performance

Shares of JOE stock opened at $46.61 on Friday. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 39.50 and a beta of 1.25. The company’s 50 day moving average is $52.69 and its 200 day moving average is $55.82. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.85. The St. Joe Company has a 52-week low of $46.30 and a 52-week high of $64.69.

St. Joe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 7th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.20%. The ex-dividend date was Thursday, November 7th. St. Joe’s payout ratio is 47.46%.

St. Joe Company 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.