NJ State Employees Deferred Compensation Plan Invests $403,000 in St. Joe Co (JOE) Stock
NJ State Employees Deferred Compensation Plan purchased a new stake in shares of St. Joe Co (NYSE:JOE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,000 shares of the financial services provider’s stock, valued at approximately $403,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its stake in shares of St. Joe by 105.0% in the 1st quarter. Wells Fargo & Company MN now owns 313,162 shares of the financial services provider’s stock valued at $5,904,000 after purchasing an additional 160,397 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of St. Joe by 5.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 307,330 shares of the financial services provider’s stock valued at $5,794,000 after purchasing an additional 15,297 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of St. Joe by 8.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,358,895 shares of the financial services provider’s stock valued at $25,615,000 after purchasing an additional 101,043 shares during the period. Jane Street Group LLC acquired a new position in shares of St. Joe in the 1st quarter valued at $449,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of St. Joe in the 1st quarter valued at $3,348,000. 95.17% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of St. Joe from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. TheStreet cut shares of St. Joe from a “b-” rating to a “c+” rating in a research note on Monday, September 10th.
St. Joe (NYSE:JOE) last posted its earnings results on Wednesday, August 1st. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $50.40 million during the quarter, compared to analysts’ expectations of $26.80 million. St. Joe had a net margin of 56.86% and a return on equity of 1.66%. Research analysts anticipate that St. Joe Co will post 0.09 earnings per share for the current year.
St. Joe Company Profile
The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Florida, the United States. It operates through four segments: Residential Real Estate, Resorts and Leisure, Commercial Leasing and Sales, and Forestry. The Residential Real Estate segment plans and develops residential communities of various sizes.
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