Edgestream Partners L.P. Reduces Stock Holdings in St. Joe Company (The) $JOE

Edgestream Partners L.P. lessened its position in shares of St. Joe Company (The) (NYSE:JOE) by 69.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,491 shares of the financial services provider’s stock after selling 14,477 shares during the period. Edgestream Partners L.P.’s holdings in St. Joe were worth $408,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in JOE. State Street Corp boosted its position in shares of St. Joe by 1.5% in the 4th quarter. State Street Corp now owns 1,430,583 shares of the financial services provider’s stock worth $84,934,000 after buying an additional 21,309 shares in the last quarter. Geode Capital Management LLC increased its holdings in St. Joe by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 994,963 shares of the financial services provider’s stock valued at $59,081,000 after acquiring an additional 11,621 shares in the last quarter. Nitor Capital Management LLC purchased a new position in St. Joe during the 4th quarter valued at about $31,789,000. Victory Capital Management Inc. raised its position in St. Joe by 5.4% during the fourth quarter. Victory Capital Management Inc. now owns 429,376 shares of the financial services provider’s stock worth $25,492,000 after acquiring an additional 21,938 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in St. Joe by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 364,009 shares of the financial services provider’s stock worth $21,611,000 after acquiring an additional 3,007 shares during the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Hold rating, According to MarketBeat, St. Joe currently has a consensus rating of “Hold”.

Insider Buying and Selling at St. Joe

In other 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 sale, the insider owned 15,073,624 shares in the company, valued at $990,487,833.04. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 622,200 shares of company stock worth $40,745,299. Corporate insiders own 0.35% of the company’s stock.

St. Joe Stock Performance

NYSE:JOE opened at $64.81 on Thursday. The firm has a 50 day simple moving average of $63.17 and a 200-day simple moving average of $65.67. 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 cap of $3.69 billion, a PE ratio of 30.29 and a beta of 1.29. St. Joe Company has a 1-year low of $46.37 and a 1-year high of $73.54.

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

St. Joe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be issued a $0.16 dividend. The ex-dividend date is Friday, August 21st. This represents a $0.64 annualized dividend and a yield of 1.0%. St. Joe’s payout ratio is 29.91%.

St. Joe Company 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.