Algert Global LLC Lowers Position in St. Joe Company (The) $JOE

Key Points

• Algert Global LLC reduced its stake in St. Joe Company by 7% during the 1st quarter, holding 103,689 shares valued at approximately $4.87 million.
• St. Joe recently announced a quarterly $0.14 dividend, representing a 1.1% annualized yield, with an ex-dividend date set for August 22nd.
• Wall Street analysts downgraded St. Joe from a "buy" to a "hold" rating as of June 8th, indicating a potential slowdown in investor confidence.

Algert Global LLC lowered its position in St. Joe Company (The) (NYSE:JOE - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 103,689 shares of the financial services provider's stock after selling 7,773 shares during the quarter. Algert Global LLC owned about 0.18% of St. Joe worth $4,868,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in St. Joe in the fourth quarter valued at $38,000. CWM LLC increased its stake in St. Joe by 472.4% in the first quarter. CWM LLC now owns 3,709 shares of the financial services provider's stock valued at $174,000 after acquiring an additional 3,061 shares during the last quarter. XTX Topco Ltd bought a new position in St. Joe in the fourth quarter valued at $210,000. Entropy Technologies LP bought a new position in St. Joe in the first quarter valued at $222,000. Finally, Bridgefront Capital LLC bought a new position in St. Joe in the fourth quarter valued at $225,000. Institutional investors own 86.67% 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.

St. Joe Trading Up 4.7%

NYSE JOE traded up $2.2970 during trading on Friday, hitting $51.3070. 591,541 shares of the company's stock traded hands, compared to its average volume of 233,430. The stock has a fifty day moving average of $49.65 and a two-hundred day moving average of $46.69. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.45 and a quick ratio of 1.45. St. Joe Company has a 12-month low of $40.19 and a 12-month high of $62.49. The firm has a market cap of $2.97 billion, a P/E ratio of 36.13 and a beta of 1.37.

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

St. Joe Announces Dividend

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

Insider Buying and Selling

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 167,500 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $51.44, for a total transaction of $8,616,200.00. Following the completion of the transaction, the insider owned 16,634,024 shares of the company's stock, valued at $855,654,194.56. This represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders sold 405,600 shares of company stock worth $20,645,157. Corporate insiders own 38.80% of the company's stock.

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.