Wells Fargo & Company MN Acquires 54,962 Shares of St. Joe Co (JOE)

Wells Fargo & Company MN grew its holdings in St. Joe Co (NYSE:JOE) by 56.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 151,688 shares of the financial services provider’s stock after purchasing an additional 54,962 shares during the quarter. Wells Fargo & Company MN owned approximately 0.23% of St. Joe worth $2,860,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of JOE. Schwab Charles Investment Management Inc. raised its holdings in shares of St. Joe by 1.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 284,552 shares of the financial services provider’s stock valued at $5,336,000 after purchasing an additional 3,251 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of St. Joe in the 2nd quarter valued at about $114,000. BNP Paribas Arbitrage SA raised its holdings in shares of St. Joe by 207.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,987 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 4,039 shares in the last quarter. CIBC World Markets Inc. bought a new stake in shares of St. Joe in the 2nd quarter valued at about $279,000. Finally, TIAA CREF Investment Management LLC raised its stake in shares of St. Joe by 0.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 133,650 shares of the financial services provider’s stock worth $2,506,000 after acquiring an additional 1,120 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

St. Joe Co (NYSE JOE) opened at $17.95 on Friday. The company has a market cap of $1,190.00, a P/E ratio of 54.39 and a beta of 0.92. St. Joe Co has a 52 week low of $16.30 and a 52 week high of $19.90.

St. Joe (NYSE:JOE) last posted its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.08 EPS for the quarter, topping the consensus estimate of $0.04 by $0.04. The firm had revenue of $33.60 million during the quarter, compared to analyst estimates of $25.80 million. St. Joe had a net margin of 24.82% and a return on equity of 3.71%. equities analysts expect that St. Joe Co will post 0.25 earnings per share for the current year.

St. Joe declared that its Board of Directors has initiated a share buyback plan on Thursday, September 21st that authorizes the company to buyback $66.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 5.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In related news, Director Fairholme Capital Management L purchased 59,050 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were acquired at an average price of $17.84 per share, for a total transaction of $1,053,452.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Howard S. Frank purchased 20,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were bought at an average price of $18.98 per share, for a total transaction of $379,600.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $379,600. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 994,150 shares of company stock valued at $18,380,258. 33.83% of the stock is currently owned by company insiders.

Several research analysts recently commented on the stock. ValuEngine lowered shares of St. Joe from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Zacks Investment Research lowered shares of St. Joe from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 16th.

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St. Joe 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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Institutional Ownership by Quarter for St. Joe (NYSE:JOE)

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