Wells Fargo & Company MN boosted its holdings in shares of St. Joe Company (The) (NYSE:JOE) by 20.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 96,726 shares of the financial services provider’s stock after buying an additional 16,666 shares during the quarter. Wells Fargo & Company MN owned 0.14% of St. Joe Company (The) worth $1,812,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. grew its stake in shares of St. Joe Company (The) by 12,179.7% during the 1st quarter. BlackRock Inc. now owns 14,342,066 shares of the financial services provider’s stock worth $244,531,000 after purchasing an additional 14,225,271 shares during the period. Brandes Investment Partners LP grew its stake in shares of St. Joe Company (The) by 9.4% during the 2nd quarter. Brandes Investment Partners LP now owns 2,034,434 shares of the financial services provider’s stock worth $38,153,000 after purchasing an additional 175,221 shares during the period. Vanguard Group Inc. grew its stake in shares of St. Joe Company (The) by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 4,193,126 shares of the financial services provider’s stock worth $71,493,000 after purchasing an additional 95,162 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of St. Joe Company (The) by 11.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 776,303 shares of the financial services provider’s stock worth $13,236,000 after purchasing an additional 82,242 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in shares of St. Joe Company (The) during the 2nd quarter worth approximately $1,350,000. 96.66% of the stock is owned by institutional investors.
St. Joe Company (NYSE JOE) traded up $0.35 during trading on Friday, reaching $18.45. 181,800 shares of the company were exchanged, compared to its average volume of 262,876. St. Joe Company has a 1 year low of $16.30 and a 1 year high of $21.90. The firm has a market cap of $1,200.41, a PE ratio of 54.85 and a beta of 0.88.
St. Joe Company (The) (NYSE:JOE) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. St. Joe Company (The) had a net margin of 24.82% and a return on equity of 3.71%. The firm had revenue of $33.60 million for the quarter, compared to analysts’ expectations of $25.80 million. sell-side analysts anticipate that St. Joe Company will post 0.25 EPS for the current fiscal year.
St. Joe Company (The) announced that its board has initiated a share repurchase plan on Thursday, September 21st that authorizes the company to repurchase $66.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 5.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
A number of equities research analysts have recently commented on the stock. BidaskClub cut shares of St. Joe Company (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research cut shares of St. Joe Company (The) from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 16th.
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St. Joe Company (The) Company Profile
The St. Joe Company is a real estate development, asset management and operating company. The Company operates through five segments: residential real estate; commercial real estate; resorts and leisure; leasing operations, and forestry. Its residential real estate segment plans and develops primary residential and resort residential communities of various sizes on its existing land.
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