Nitor Capital Management LLC Acquires Shares of 526,496 St. Joe Company (The) $JOE

Nitor Capital Management LLC bought a new position in shares of St. Joe Company (The) (NYSE:JOE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 526,496 shares of the financial services provider’s stock, valued at approximately $32,974,000. St. Joe comprises approximately 22.3% of Nitor Capital Management LLC’s investment portfolio, making the stock its 2nd largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Horizon Investments LLC acquired a new position in shares of St. Joe during the 4th quarter worth $1,653,000. Principal Financial Group Inc. lifted its position in shares of St. Joe by 17.0% during the 1st quarter. Principal Financial Group Inc. now owns 222,891 shares of the financial services provider’s stock worth $13,998,000 after buying an additional 32,457 shares during the last quarter. First Trust Advisors LP boosted its stake in St. Joe by 277.2% in the first quarter. First Trust Advisors LP now owns 127,557 shares of the financial services provider’s stock valued at $8,011,000 after buying an additional 93,736 shares in the last quarter. Renaissance Technologies LLC boosted its stake in St. Joe by 516.9% in the first quarter. Renaissance Technologies LLC now owns 54,900 shares of the financial services provider’s stock valued at $3,448,000 after buying an additional 46,000 shares in the last quarter. Finally, Emmett Investment Management LP bought a new position in St. Joe in the first quarter valued at about $1,713,000. 86.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised St. Joe from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, St. Joe currently has a consensus rating of “Buy”.

St. Joe Stock Performance

Shares of St. Joe stock opened at $69.20 on Monday. St. Joe Company has a fifty-two week low of $46.37 and a fifty-two week high of $73.54. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $3.94 billion, a P/E ratio of 32.34 and a beta of 1.29. The company’s 50 day moving average price is $64.06 and its two-hundred day moving average price is $65.92.

St. Joe (NYSE:JOE) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.71 earnings per share for the quarter. The firm had revenue of $158.86 million for the quarter. St. Joe had a net margin of 22.45% and a return on equity of 15.90%.

St. Joe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 21st will be given a dividend of $0.16 per share. The ex-dividend date is Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a yield of 0.9%. St. Joe’s payout ratio is currently 29.91%.

Insiders Place Their Bets

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 140,400 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $65.71, for a total value 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 $990,487,833.04. This represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 506,500 shares of company stock worth $33,116,206. Insiders own 0.35% of the company’s stock.

About St. Joe

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.