Russell Investments Group Ltd. Trims Stake in The St. Joe Company (NYSE:JOE)

Russell Investments Group Ltd. lessened its stake in shares of The St. Joe Company (NYSE:JOE) by 26.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,101 shares of the financial services provider’s stock after selling 10,260 shares during the quarter. Russell Investments Group Ltd.’s holdings in St. Joe were worth $1,308,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of JOE. Vanguard Group Inc. grew its stake in St. Joe by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 6,197,402 shares of the financial services provider’s stock worth $278,449,000 after acquiring an additional 252,906 shares during the period. Geode Capital Management LLC boosted its position in shares of St. Joe by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 906,668 shares of the financial services provider’s stock worth $40,746,000 after acquiring an additional 8,031 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in St. Joe by 7.7% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 564,202 shares of the financial services provider’s stock valued at $25,350,000 after purchasing an additional 40,354 shares during the period. Charles Schwab Investment Management Inc. increased its position in St. Joe by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 364,559 shares of the financial services provider’s stock worth $16,380,000 after purchasing an additional 6,904 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in St. Joe by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 347,929 shares of the financial services provider’s stock worth $15,632,000 after purchasing an additional 16,514 shares during the period. Hedge funds and other institutional investors own 86.67% of the company’s stock.

St. Joe Stock Performance

Shares of NYSE:JOE opened at $42.63 on Monday. The firm has a market capitalization of $2.48 billion, a PE ratio of 36.13 and a beta of 1.28. The St. Joe Company has a 12 month low of $40.19 and a 12 month high of $64.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.34 and a quick ratio of 1.34. The business has a 50-day moving average of $45.58 and a two-hundred day moving average of $48.39.

St. Joe (NYSE:JOE) last announced its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter. St. Joe had a return on equity of 9.58% and a net margin of 17.76%. The firm had revenue of $104.30 million during the quarter.

St. Joe Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Monday, March 10th were paid a $0.14 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.31%. St. Joe’s dividend payout ratio (DPR) is presently 44.09%.

Insider Buying and Selling at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 95,700 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $47.11, for a total value of $4,508,427.00. Following the transaction, the insider now directly owns 17,162,524 shares in the company, valued at approximately $808,526,505.64. This trade represents a 0.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 300,000 shares of company stock worth $14,113,022 in the last ninety days. 38.80% of the stock is owned by insiders.

St. Joe Company 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 engages in the development of communities into homesites for sale to homebuilders and on a limited basis to retail customers.