St. Joe Company (The) $JOE Shares Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its stake in St. Joe Company by 67.4% during Q1, acquiring an additional 40,634 shares to hold a total of 100,951 shares valued at approximately $4.74 million.
• Institutional investors own 86.67% of St. Joe’s shares, with several funds significantly enhancing their positions in recent quarters, including Millennium Management which grew its holdings by 2,785.5%.
• St. Joe recently announced a quarterly dividend of $0.14 per share, with an annualized yield of 1.1%, set to be paid on September 19th.

Cubist Systematic Strategies LLC raised its position in St. Joe Company (The) (NYSE:JOE - Free Report) by 67.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,951 shares of the financial services provider's stock after purchasing an additional 40,634 shares during the period. Cubist Systematic Strategies LLC owned 0.17% of St. Joe worth $4,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in St. Joe during the 4th quarter worth about $38,000. MAI Capital Management increased its stake in St. Joe by 120.8% in the first quarter. MAI Capital Management now owns 1,104 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 604 shares during the last quarter. CWM LLC raised its holdings in St. Joe by 472.4% during the first quarter. CWM LLC now owns 3,709 shares of the financial services provider's stock worth $174,000 after purchasing an additional 3,061 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of St. Joe during the 1st quarter worth approximately $222,000. Finally, Bridgefront Capital LLC purchased a new stake in shares of St. Joe during the 4th quarter worth approximately $225,000. Hedge funds and other institutional investors own 86.67% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, major shareholder Bruce R. Berkowitz sold 167,500 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $51.44, for a total value of $8,616,200.00. Following the completion of the sale, the insider directly owned 16,634,024 shares of the company's stock, valued at approximately $855,654,194.56. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 616,000 shares of company stock valued at $31,340,145 in the last quarter. Insiders own 0.32% of the company's stock.

St. Joe Stock Performance

JOE traded down $0.57 during trading on Wednesday, hitting $50.26. 145,749 shares of the stock were exchanged, compared to its average volume of 233,110. 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 Company has a 1-year low of $40.19 and a 1-year high of $62.49. The stock has a fifty day moving average price of $50.42 and a two-hundred day moving average price of $47.00. The firm has a market capitalization of $2.91 billion, a P/E ratio of 35.39 and a beta of 1.35.

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. The business had revenue of $129.10 million for the quarter. St. Joe had a net margin of 19.39% and a return on equity of 11.19%.

St. Joe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders 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 dividend on an annualized basis and a yield of 1.1%. St. Joe's payout ratio is currently 39.44%.

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.