St. Joe Company (The) $JOE Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its stake in shares of St. Joe Company (The) (NYSE:JOE) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,134,191 shares of the financial services provider’s stock after selling 63,211 shares during the quarter. Vanguard Group Inc. owned 10.54% of St. Joe worth $288,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of St. Joe during the fourth quarter worth about $38,000. CWM LLC lifted its stake in shares of St. Joe by 472.4% during the first quarter. CWM LLC now owns 3,709 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 3,061 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of St. Joe during the fourth quarter worth about $210,000. Bridgefront Capital LLC acquired a new position in shares of St. Joe during the fourth quarter worth about $225,000. Finally, Corton Capital Inc. acquired a new position in shares of St. Joe during the fourth quarter worth about $227,000. Institutional investors and hedge funds own 86.67% of the company’s stock.

St. Joe Trading Down 1.1%

NYSE:JOE opened at $50.16 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 1.45. St. Joe Company has a one year low of $40.19 and a one year high of $62.49. The business’s 50-day simple moving average is $49.35 and its 200 day simple moving average is $46.62. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 35.32 and a beta of 1.37.

St. Joe (NYSE:JOE) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.51 EPS for the quarter. St. Joe had a return on equity of 11.19% and a net margin of 19.39%. The business had revenue of $129.10 million for the quarter.

St. Joe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be paid a $0.14 dividend. The ex-dividend date is Friday, August 22nd. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. St. Joe’s payout ratio is 39.44%.

Insider Activity at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 167,500 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $51.44, for a total value of $8,616,200.00. Following the transaction, the insider owned 16,634,024 shares in the company, valued at approximately $855,654,194.56. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 350,600 shares of company stock valued at $17,882,167 in the last 90 days. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut St. Joe from a “buy” rating to a “hold” rating in a research note on Sunday, June 8th.

About St. Joe

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.