Ieq Capital LLC Acquires Shares of 11,742 St. Joe Company (The) $JOE

Key Points

• Ieq Capital LLC has invested approximately $551,000 in St. Joe Company by purchasing 11,742 shares during the first quarter.
• St. Joe recently declared a quarterly dividend of $0.14, which translates to an annualized yield of 1.1% with a payout ratio of 39.44%.
• Analysts have downgraded St. Joe from a "buy" rating to a "hold" rating as of June 8th.

Ieq Capital LLC purchased a new stake in St. Joe Company (The) (NYSE:JOE - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 11,742 shares of the financial services provider's stock, valued at approximately $551,000.

Several other hedge funds have also made changes to their positions in the business. Janney Montgomery Scott LLC acquired a new position in St. Joe in the first quarter valued at $263,000. SG Americas Securities LLC acquired a new stake in St. Joe in the 1st quarter worth about $475,000. Lazard Asset Management LLC purchased a new stake in St. Joe in the 4th quarter valued at about $38,000. Millennium Management LLC increased its stake in shares of St. Joe by 2,785.5% during the 4th 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. lifted its holdings 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 worth $921,000 after acquiring an additional 782 shares during the period. Institutional investors and hedge funds own 86.67% of the company's stock.

St. Joe Trading Down 3.1%

JOE traded down $1.65 on Tuesday, reaching $51.00. 32,914 shares of the company's stock were exchanged, compared to its average volume of 250,036. St. Joe Company has a twelve month low of $40.19 and a twelve month high of $62.49. The company's 50 day moving average is $50.34 and its 200-day moving average is $46.95. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 35.96 and a beta of 1.35.

St. Joe (NYSE:JOE - Get Free Report) last announced its quarterly earnings results 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 for the quarter.

St. Joe Dividend Announcement

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

Insider Transactions at St. Joe

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 25,300 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 16,428,724 shares of the company's stock, valued at $837,864,924. This trade represents a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 511,900 shares of company stock valued at $26,022,717. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.