St. Joe Company (The) $JOE Shares Sold by Algert Global LLC

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 holdings in St. Joe Company (The) (NYSE:JOE - Free Report) by 7.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund 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 reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in JOE. Lazard Asset Management LLC acquired a new stake in shares of St. Joe during the 4th quarter worth about $38,000. CWM LLC raised its position in shares of St. Joe by 472.4% during the 1st quarter. CWM LLC now owns 3,709 shares of the financial services provider's stock worth $174,000 after acquiring an additional 3,061 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of St. Joe during the 4th quarter worth about $210,000. Entropy Technologies LP acquired a new stake in shares of St. Joe during the 1st quarter worth about $222,000. Finally, Bridgefront Capital LLC acquired a new stake in shares of St. Joe during the 4th quarter worth about $225,000. Institutional investors and hedge funds own 86.67% of the company's stock.

St. Joe Stock Performance

JOE stock traded up $2.2970 during trading on Friday, hitting $51.3070. The company had a trading volume of 591,541 shares, compared to its average volume of 253,144. The firm has a market cap of $2.97 billion, a PE ratio of 36.13 and a beta of 1.37. St. Joe Company has a 1-year low of $40.19 and a 1-year high of $62.49. The firm has a 50-day moving average price of $49.55 and a 200-day moving average price of $46.68. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.81.

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

St. Joe Dividend Announcement

The firm also recently announced 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 is Friday, August 22nd. This represents a $0.56 annualized dividend and a yield of 1.1%. St. Joe's payout ratio is presently 39.44%.

Insider Transactions at St. Joe

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 167,500 shares of the business'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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 405,600 shares of company stock worth $20,645,157. Insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered St. Joe from a "buy" rating to a "hold" rating in a research report 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.