Gamco Investors INC. ET AL Has $30.93 Million Stock Holdings in St. Joe Company (The) $JOE

Key Points

• Gamco Investors INC. ET AL reduced its stake in St. Joe Company by 2.5%, owning approximately $30.93 million worth of shares after selling 16,890 shares.
• St. Joe Company announced a quarterly dividend of $0.14 per share, with an annualized yield of 1.1%, and a payout ratio of 39.44%.
• Insider Bruce R. Berkowitz sold 167,500 shares for about $8.6 million but still retains over 16 million shares, reflecting ongoing confidence in the company.

Gamco Investors INC. ET AL cut its position in shares of St. Joe Company (The) (NYSE:JOE - Free Report) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 658,810 shares of the financial services provider's stock after selling 16,890 shares during the quarter. Gamco Investors INC. ET AL owned 1.13% of St. Joe worth $30,931,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Old West Investment Management LLC grew its position in St. Joe by 2.5% during the first quarter. Old West Investment Management LLC now owns 93,508 shares of the financial services provider's stock worth $4,390,000 after buying an additional 2,257 shares in the last quarter. Cresset Asset Management LLC bought a new position in St. Joe during the first quarter worth about $237,000. Nations Financial Group Inc. IA ADV lifted its stake in St. Joe by 13.1% during the first quarter. Nations Financial Group Inc. IA ADV now owns 25,900 shares of the financial services provider's stock worth $1,216,000 after purchasing an additional 3,000 shares during the period. American Century Companies Inc. lifted its stake in St. Joe by 234.7% during the first quarter. American Century Companies Inc. now owns 20,595 shares of the financial services provider's stock worth $967,000 after purchasing an additional 14,442 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in St. Joe by 21.1% during the first quarter. Russell Investments Group Ltd. now owns 35,237 shares of the financial services provider's stock worth $1,654,000 after purchasing an additional 6,136 shares during the period. 86.67% of the stock is owned by institutional investors and hedge funds.

St. Joe Stock Performance

JOE stock opened at $50.3240 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.45 and a quick ratio of 1.45. The company has a 50 day moving average price of $49.73 and a 200 day moving average price of $46.72. St. Joe Company has a fifty-two week low of $40.19 and a fifty-two week high of $62.49. The stock has a market capitalization of $2.91 billion, a PE ratio of 35.44 and a beta of 1.37.

St. Joe (NYSE:JOE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.51 earnings per share 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 during the quarter.

St. Joe Dividend Announcement

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

Insiders Place Their Bets

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 167,500 shares of St. Joe stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $51.44, for a total transaction of $8,616,200.00. Following the completion of the sale, the insider owned 16,634,024 shares of the company's stock, valued at approximately $855,654,194.56. The trade was a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 405,600 shares of company stock valued at $20,645,157. Insiders own 38.80% of the company's stock.

Analyst Upgrades and Downgrades

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 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.

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