St. Joe Company (The) $JOE Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its holdings in St. Joe Company by 234.7%, now owning 20,595 shares worth approximately $967,000.
• St. Joe recently announced a quarterly dividend of $0.14 per share, representing a 1.1% dividend yield.
• Analysts have downgraded St. Joe from a "buy" to a "hold" rating as of June 8th, indicating a cautious outlook for the stock.

American Century Companies Inc. lifted its holdings in shares of St. Joe Company (The) (NYSE:JOE - Free Report) by 234.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,595 shares of the financial services provider's stock after buying an additional 14,442 shares during the quarter. American Century Companies Inc.'s holdings in St. Joe were worth $967,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new stake in shares of St. Joe during the 1st quarter worth $263,000. SG Americas Securities LLC acquired a new position in shares of St. Joe in the first quarter worth $475,000. Lazard Asset Management LLC acquired a new stake in St. Joe in the 4th quarter worth $38,000. Millennium Management LLC raised its stake in shares of St. Joe by 2,785.5% in the fourth quarter. Millennium Management LLC now owns 209,917 shares of the financial services provider's stock valued at $9,432,000 after acquiring an additional 202,642 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of St. Joe by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,508 shares of the financial services provider's stock valued at $921,000 after acquiring an additional 782 shares during the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of St. Joe from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th.

St. Joe Trading Up 2.3%

Shares of JOE traded up $1.19 during midday trading on Monday, reaching $52.33. The company had a trading volume of 98,950 shares, compared to its average volume of 250,009. The stock has a market cap of $3.03 billion, a PE ratio of 36.85 and a beta of 1.35. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.81. The firm has a 50 day simple moving average of $50.24 and a 200-day simple moving average of $46.91. St. Joe Company has a 1-year low of $40.19 and a 1-year high of $62.49.

St. Joe (NYSE:JOE - Get Free Report) last announced its 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 firm had revenue of $129.10 million for the quarter.

St. Joe Announces Dividend

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. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 22nd. St. Joe's payout ratio is 39.44%.

Insider Transactions at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 167,500 shares of St. Joe 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 of the company's stock, valued at $855,654,194.56. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 511,900 shares of company stock worth $26,022,717. 38.80% of the stock is currently owned by company insiders.

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.