Principal Financial Group Inc. Sells 11,418 Shares of The St. Joe Company (NYSE:JOE)

Principal Financial Group Inc. reduced its holdings in The St. Joe Company (NYSE:JOE) by 5.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 192,790 shares of the financial services provider’s stock after selling 11,418 shares during the quarter. Principal Financial Group Inc. owned 0.33% of St. Joe worth $9,319,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CWM LLC increased its holdings in shares of St. Joe by 243.9% in the second quarter. CWM LLC now owns 564 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 400 shares in the last quarter. Money Concepts Capital Corp bought a new stake in shares of St. Joe in the fourth quarter worth about $26,000. Tower Research Capital LLC TRC increased its holdings in shares of St. Joe by 93.8% in the first quarter. Tower Research Capital LLC TRC now owns 909 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 440 shares in the last quarter. First Manhattan CO. LLC. bought a new stake in shares of St. Joe in the first quarter worth about $42,000. Finally, FMR LLC grew its holdings in shares of St. Joe by 18.1% during the first quarter. FMR LLC now owns 1,805 shares of the financial services provider’s stock worth $75,000 after buying an additional 277 shares in the last quarter. 88.56% of the stock is currently owned by institutional investors.

St. Joe Stock Performance

NYSE:JOE opened at $53.11 on Tuesday. The company has a market cap of $3.10 billion, a PE ratio of 33.40 and a beta of 1.35. The St. Joe Company has a 52-week low of $34.75 and a 52-week high of $65.99. The stock has a 50-day simple moving average of $52.19 and a 200 day simple moving average of $52.24.

St. Joe (NYSE:JOE) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.33 EPS for the quarter. St. Joe had a return on equity of 13.83% and a net margin of 25.43%. The firm had revenue of $101.40 million during the quarter.

St. Joe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 9th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.48 annualized dividend and a yield of 0.90%. St. Joe’s dividend payout ratio (DPR) is presently 30.19%.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on St. Joe in a report on Thursday, October 5th. They set a “hold” rating for the company.

St. Joe Profile

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 plans and develops residential communities of various sizes for homebuilders or retail consumers.