The St. Joe Company (NYSE:JOE) Announces $0.14 Quarterly Dividend

The St. Joe Company (NYSE:JOE) announced a quarterly dividend on Thursday, April 24th, Wall Street Journal reports. Investors of record on Tuesday, June 10th will be paid a dividend of 0.14 per share by the financial services provider on Thursday, June 26th. This represents a $0.56 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, June 10th.

St. Joe has raised its dividend payment by an average of 17.6% annually over the last three years and has raised its dividend every year for the last 3 years.

St. Joe Stock Up 1.5%

Shares of NYSE:JOE opened at $46.00 on Friday. The firm’s 50 day moving average price is $43.75 and its 200 day moving average price is $45.91. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 38.99 and a beta of 1.36. St. Joe has a fifty-two week low of $40.19 and a fifty-two week high of $64.69. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.85.

St. Joe (NYSE:JOE) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.30 EPS for the quarter. The company had revenue of $94.20 million for the quarter. St. Joe had a net margin of 17.76% and a return on equity of 9.58%.

Insider Buying and Selling at St. Joe

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 160,300 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $47.00, for a total value of $7,534,100.00. Following the transaction, the insider now directly owns 17,000,724 shares in the company, valued at $799,034,028. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On St. Joe

Several hedge funds have recently added to or reduced their stakes in JOE. Royal Bank of Canada increased its stake in St. Joe by 4.9% in the first quarter. Royal Bank of Canada now owns 29,915 shares of the financial services provider’s stock valued at $1,404,000 after purchasing an additional 1,384 shares during the last quarter. AQR Capital Management LLC grew its position in shares of St. Joe by 152.4% during the first quarter. AQR Capital Management LLC now owns 76,084 shares of the financial services provider’s stock worth $3,572,000 after acquiring an additional 45,939 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of St. Joe by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,459 shares of the financial services provider’s stock worth $1,008,000 after acquiring an additional 951 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of St. Joe by 29.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,606 shares of the financial services provider’s stock worth $4,113,000 after acquiring an additional 19,879 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in shares of St. Joe by 45.8% during the first quarter. Intech Investment Management LLC now owns 26,218 shares of the financial services provider’s stock worth $1,231,000 after acquiring an additional 8,235 shares during the last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of St. Joe from a “buy” rating to a “hold” rating in a research note on Sunday.

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.