Institute for Wealth Management LLC. Acquires 11,984 Shares of The St. Joe Company (NYSE:JOE)

Institute for Wealth Management LLC. grew its holdings in shares of The St. Joe Company (NYSE:JOE) by 91.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,046 shares of the financial services provider’s stock after purchasing an additional 11,984 shares during the period. Institute for Wealth Management LLC.’s holdings in St. Joe were worth $1,507,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in St. Joe during the 3rd quarter valued at about $1,779,000. Northern Trust Corp lifted its position in St. Joe by 5.5% in the 3rd quarter. Northern Trust Corp now owns 413,648 shares of the financial services provider’s stock valued at $22,473,000 after acquiring an additional 21,497 shares in the last quarter. Teza Capital Management LLC purchased a new stake in St. Joe during the 3rd quarter valued at $298,000. Raymond James & Associates boosted its stake in St. Joe by 0.8% during the 3rd quarter. Raymond James & Associates now owns 31,531 shares of the financial services provider’s stock valued at $1,713,000 after purchasing an additional 252 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of St. Joe in the 3rd quarter worth $1,576,000. 86.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Bruce R. Berkowitz sold 7,300 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $54.28, for a total transaction of $396,244.00. Following the transaction, the director now directly owns 19,228,724 shares of the company’s stock, valued at approximately $1,043,735,138.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other St. Joe news, Director Bruce R. Berkowitz sold 7,300 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $54.28, for a total transaction of $396,244.00. Following the completion of the sale, the director now directly owns 19,228,724 shares in the company, valued at approximately $1,043,735,138.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Berkowitz sold 4,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $55.38, for a total transaction of $249,210.00. Following the completion of the transaction, the director now owns 19,390,224 shares in the company, valued at approximately $1,073,830,605.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,800 shares of company stock valued at $5,780,959. Company insiders own 38.80% of the company’s stock.

St. Joe Stock Performance

Shares of NYSE:JOE traded up $0.85 during midday trading on Friday, reaching $55.07. 121,903 shares of the company’s stock traded hands, compared to its average volume of 181,469. The St. Joe Company has a one year low of $38.81 and a one year high of $65.99. The stock has a 50 day moving average of $55.07 and a 200 day moving average of $54.28. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 40.96 and a beta of 1.30. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.47 and a current ratio of 1.47.

St. Joe (NYSE:JOE) last posted its earnings results on Wednesday, February 21st. The financial services provider reported $0.23 earnings per share (EPS) for the quarter. The business had revenue of $86.70 million for the quarter. St. Joe had a net margin of 19.96% and a return on equity of 11.40%.

St. Joe Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Monday, March 4th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Friday, March 1st. St. Joe’s dividend payout ratio is currently 35.82%.

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.