Independent Advisor Alliance Makes New $343,000 Investment in The St. Joe Company (NYSE:JOE)

Independent Advisor Alliance bought a new position in shares of The St. Joe Company (NYSE:JOE) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 7,638 shares of the financial services provider’s stock, valued at approximately $343,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of St. Joe in the 4th quarter valued at about $4,657,000. State Street Corp grew its holdings in shares of St. Joe by 5.7% in the 3rd quarter. State Street Corp now owns 1,396,046 shares of the financial services provider’s stock valued at $81,403,000 after acquiring an additional 75,374 shares in the last quarter. Barclays PLC grew its holdings in shares of St. Joe by 404.5% in the 3rd quarter. Barclays PLC now owns 64,990 shares of the financial services provider’s stock valued at $3,790,000 after acquiring an additional 52,107 shares in the last quarter. Old West Investment Management LLC grew its holdings in shares of St. Joe by 68.6% in the 3rd quarter. Old West Investment Management LLC now owns 127,374 shares of the financial services provider’s stock valued at $7,427,000 after acquiring an additional 51,830 shares in the last quarter. Finally, Edgestream Partners L.P. grew its holdings in shares of St. Joe by 279.2% in the 3rd quarter. Edgestream Partners L.P. now owns 68,059 shares of the financial services provider’s stock valued at $3,969,000 after acquiring an additional 50,112 shares in the last quarter. Institutional investors own 86.67% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Bruce R. Berkowitz sold 95,700 shares of St. Joe stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $47.11, for a total transaction of $4,508,427.00. Following the completion of the transaction, the insider now owns 17,162,524 shares in the company, valued at approximately $808,526,505.64. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 38.80% of the stock is currently owned by corporate insiders.

St. Joe Price Performance

Shares of NYSE JOE opened at $46.70 on Wednesday. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 39.58 and a beta of 1.30. The business has a 50-day moving average of $46.99 and a 200-day moving average of $50.80. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.34 and a quick ratio of 1.34. The St. Joe Company has a fifty-two week low of $42.94 and a fifty-two week high of $64.69.

St. Joe (NYSE:JOE) last announced its quarterly earnings data on Wednesday, February 26th. The financial services provider reported $0.32 earnings per share for the quarter. St. Joe had a return on equity of 9.58% and a net margin of 17.76%. The company had revenue of $104.30 million during the quarter.

St. Joe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Monday, March 10th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Monday, March 10th. St. Joe’s payout ratio is currently 44.09%.

About St. Joe

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.