AlphaQuest LLC Decreases Stock Position in St. Joe Company (The) $JOE

Key Points

• AlphaQuest LLC significantly reduced its stake in St. Joe Company by 88.4% in the first quarter, selling 25,409 shares and holding only 3,334 shares valued at $157,000 thereafter.
• Major shareholder Bruce R. Berkowitz sold 81,000 shares of St. Joe stock for over $4 million, which decreased his position by 0.49%, while insiders overall sold 486,600 shares in the last ninety days.
• The stock was recently downgraded by Wall Street Zen from a "buy" to a "hold" rating as St. Joe prepares to distribute a $0.14 quarterly dividend to investors on record.

AlphaQuest LLC cut its holdings in St. Joe Company (The) (NYSE:JOE - Free Report) by 88.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,334 shares of the financial services provider's stock after selling 25,409 shares during the period. AlphaQuest LLC's holdings in St. Joe were worth $157,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Envestnet Asset Management Inc. increased its position in St. Joe by 29.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,528 shares of the financial services provider's stock worth $608,000 after buying an additional 3,049 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of St. Joe by 8.9% in the fourth quarter. Stifel Financial Corp now owns 31,275 shares of the financial services provider's stock worth $1,405,000 after acquiring an additional 2,543 shares during the period. Northern Trust Corp boosted its stake in St. Joe by 7.4% during the fourth quarter. Northern Trust Corp now owns 434,283 shares of the financial services provider's stock valued at $19,512,000 after buying an additional 29,918 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in St. Joe during the fourth quarter valued at $472,000. Finally, Bank of America Corp DE boosted its stake in St. Joe by 23.5% during the fourth quarter. Bank of America Corp DE now owns 180,541 shares of the financial services provider's stock valued at $8,112,000 after buying an additional 34,382 shares during the period. 86.67% of the stock is owned by institutional investors.

Insider Buying and Selling at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 25,300 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $51.00, for a total value of $1,290,300.00. Following the sale, the insider owned 16,428,724 shares in the company, valued at $837,864,924. This represents a 0.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 511,900 shares of company stock valued at $26,022,717. Corporate insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded St. Joe from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th.

St. Joe Stock Up 1.4%

Shares of JOE stock traded up $0.71 during midday trading on Friday, reaching $50.89. 124,071 shares of the stock were exchanged, compared to its average volume of 249,646. St. Joe Company has a 1 year low of $40.19 and a 1 year high of $62.49. The company's 50 day moving average is $50.21 and its two-hundred day moving average is $46.89. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. The firm has a market cap of $2.95 billion, a PE ratio of 35.81 and a beta of 1.35.

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

St. Joe Dividend Announcement

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

St. Joe 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.