Lazard Asset Management LLC Makes New $311,000 Investment in The St. Joe Company (NYSE:JOE)

Posted by Defense World Staff on Mar 4th, 2023

Lazard Asset Management LLC acquired a new position in shares of The St. Joe Company (NYSE:JOE – Get Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,713 shares of the financial services provider’s stock, valued at approximately $311,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in shares of St. Joe by 7.3% in the 1st quarter. American Century Companies Inc. now owns 5,548 shares of the financial services provider’s stock worth $329,000 after buying an additional 376 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of St. Joe by 6.5% in the 2nd quarter. Victory Capital Management Inc. now owns 7,337 shares of the financial services provider’s stock worth $290,000 after buying an additional 451 shares during the last quarter. Texas Permanent School Fund boosted its holdings in shares of St. Joe by 2.0% in the 2nd quarter. Texas Permanent School Fund now owns 23,845 shares of the financial services provider’s stock worth $943,000 after buying an additional 468 shares during the last quarter. Level Four Advisory Services LLC boosted its holdings in shares of St. Joe by 2.4% in the 3rd quarter. Level Four Advisory Services LLC now owns 20,554 shares of the financial services provider’s stock worth $658,000 after buying an additional 474 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in shares of St. Joe by 3.3% in the 3rd quarter. Amalgamated Bank now owns 16,639 shares of the financial services provider’s stock worth $533,000 after buying an additional 527 shares during the last quarter. 86.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at St. Joe

In other St. Joe news, Director Bruce R. Berkowitz sold 131,000 shares of the company’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $43.54, for a total transaction of $5,703,740.00. Following the sale, the director now directly owns 21,138,791 shares of the company’s stock, valued at $920,382,960.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Bruce R. Berkowitz sold 1,200 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $43.11, for a total transaction of $51,732.00. Following the sale, the director now directly owns 21,137,591 shares in the company, valued at $911,241,548.01. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bruce R. Berkowitz sold 131,000 shares of the company’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $43.54, for a total value of $5,703,740.00. Following the sale, the director now owns 21,138,791 shares in the company, valued at $920,382,960.14. The disclosure for this sale can be found here. Insiders own 42.00% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of St. Joe from a “hold” rating to a “sell” rating in a report on Friday, February 24th.

St. Joe Stock Up 1.9 %

NYSE JOE opened at $42.74 on Friday. The company has a market cap of $2.49 billion, a PE ratio of 35.32 and a beta of 1.27. The St. Joe Company has a 52 week low of $31.11 and a 52 week high of $62.21. The firm’s 50-day simple moving average is $43.36 and its two-hundred day simple moving average is $38.63.

St. Joe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Monday, March 6th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, March 3rd. St. Joe’s dividend payout ratio (DPR) is presently 33.06%.

St. Joe Profile

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The St. Joe Co engages in real estate development and management. It operates through the following segments: Residential, Hospitality, and Commercial. The Residential segment plans and develops residential communities of various sizes across a wide range of price points and sells homesites to builders and retail consumers.