Capital Research Global Investors Sells 106,521 Shares of St. Joe Company (The) $JOE

Capital Research Global Investors cut its holdings in shares of St. Joe Company (The) (NYSE:JOE) by 11.5% during the fourth quarter, Holdings Channel reports. The fund owned 823,697 shares of the financial services provider’s stock after selling 106,521 shares during the period. Capital Research Global Investors’ holdings in St. Joe were worth $48,903,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. SG Americas Securities LLC grew its position in St. Joe by 138.2% during the 4th quarter. SG Americas Securities LLC now owns 38,860 shares of the financial services provider’s stock worth $2,307,000 after acquiring an additional 22,547 shares during the last quarter. Elo Mutual Pension Insurance Co bought a new stake in St. Joe during the 3rd quarter worth approximately $947,000. Horizon Investments LLC bought a new stake in St. Joe during the 4th quarter worth approximately $1,653,000. Vanguard Group Inc. grew its position in St. Joe by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,959,298 shares of the financial services provider’s stock worth $294,866,000 after acquiring an additional 179,877 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in St. Joe by 54.7% during the 3rd quarter. Victory Capital Management Inc. now owns 407,438 shares of the financial services provider’s stock worth $20,160,000 after acquiring an additional 144,121 shares during the last quarter. 86.67% of the stock is currently owned by institutional investors.

Key Stories Impacting St. Joe

Here are the key news stories impacting St. Joe this week:

• Positive Sentiment: St. Joe shares are getting some support from its recently declared quarterly dividend of $0.16 per share, with the ex-dividend date on June 9 and payment scheduled for June 25. Income-focused investors may view the payout as a sign of stable cash generation. St. Joe insider trades and dividend details
• Neutral Sentiment: Despite recent insider selling, major shareholder Bruce Berkowitz still holds a very large stake in the company after selling 29,000 shares on June 8 and additional blocks on June 4 and June 5. The sales are modest relative to his overall ownership, so the signal is more watchful than alarming. Insider sale alert
• Neutral Sentiment: There were no new earnings results or major operational updates in the latest news flow; the company’s most recent quarterly results already showed solid profitability, with $0.24 EPS and $99.04 million in revenue. St. Joe stock overview

Insider Buying and Selling

In related news, major shareholder Bruce R. Berkowitz sold 29,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $65.12, for a total transaction of $1,888,480.00. Following the sale, the insider owned 15,458,424 shares of the company’s stock, valued at approximately $1,006,652,570.88. This trade represents a 0.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 636,300 shares of company stock worth $41,918,716. Company insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wall Street Zen lowered St. Joe from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings cut St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

St. Joe Stock Performance

Shares of St. Joe stock opened at $65.44 on Wednesday. The company has a market capitalization of $3.76 billion, a PE ratio of 33.73 and a beta of 1.28. St. Joe Company has a 12 month low of $45.75 and a 12 month high of $73.54. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.72. The stock’s fifty day simple moving average is $65.71 and its 200 day simple moving average is $65.10.

St. Joe (NYSE:JOE) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.24 EPS for the quarter. The business had revenue of $99.04 million for the quarter. St. Joe had a return on equity of 14.59% and a net margin of 21.61%.

St. Joe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Tuesday, June 9th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 9th. St. Joe’s dividend payout ratio (DPR) is presently 32.99%.

St. Joe 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.