Vanguard Group Inc. Sells 241,899 Shares of St. Joe Company (The) $JOE
by Jessica Moore · The Cerbat GemVanguard Group Inc. lessened its position in shares of St. Joe Company (The) (NYSE:JOE – Free Report) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,717,399 shares of the financial services provider’s stock after selling 241,899 shares during the period. Vanguard Group Inc. owned 9.90% of St. Joe worth $339,442,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in St. Joe by 155.7% during the second quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock worth $31,000 after buying an additional 397 shares during the last quarter. Quarry LP acquired a new position in shares of St. Joe during the third quarter valued at about $39,000. Smartleaf Asset Management LLC grew its holdings in shares of St. Joe by 31.8% during the second quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock valued at $48,000 after buying an additional 236 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of St. Joe by 362.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,120 shares of the financial services provider’s stock valued at $66,000 after buying an additional 878 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of St. Joe during the fourth quarter valued at about $92,000. Institutional investors own 86.67% of the company’s stock.
St. Joe Stock Performance
NYSE JOE opened at $65.05 on Friday. St. Joe Company has a 1 year low of $42.65 and a 1 year high of $73.54. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.36 and a quick ratio of 2.36. The stock has a market capitalization of $3.73 billion, a PE ratio of 33.53 and a beta of 1.31. The company’s 50 day simple moving average is $67.55 and its two-hundred day simple moving average is $63.64.
St. Joe (NYSE:JOE – Get Free Report) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. St. Joe had a net margin of 21.61% and a return on equity of 14.59%. The business had revenue of $99.04 million for the quarter.
St. Joe Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Tuesday, June 9th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $0.64 annualized dividend and a yield of 1.0%. St. Joe’s dividend payout ratio is currently 32.99%.
Insider Transactions at St. Joe
In other St. Joe news, major shareholder Bruce R. Berkowitz sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $65.33, for a total value of $1,633,250.00. Following the sale, the insider directly owned 15,695,824 shares in the company, valued at $1,025,408,181.92. This represents a 0.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 455,300 shares of company stock valued at $30,429,072. Corporate insiders own 0.35% of the company’s stock.
Analysts Set New Price Targets
Separately, Wall Street Zen cut shares of St. Joe from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.
Read Our Latest Report on St. Joe
St. Joe Company Profile
The St. Joe Company (NYSE: JOE) is a leading real estate development and asset management firm focused on Northwest Florida. Headquartered in Jacksonville, the company owns and manages approximately 171,000 acres of land across Bay, Gulf, Franklin and Walton counties. St. Joe’s core businesses include residential community development, commercial real estate, and hospitality, with an emphasis on master-planned neighborhoods, office and retail campuses, resort hotels and mixed-use town centers.
Founded in 1936 as a paper manufacturing company, St.