Nuveen LLC Acquires Shares of 153,254 St. Joe Company (The) $JOE

Key Points

• Nuveen LLC has acquired a new position in St. Joe Company (NYSE:JOE), purchasing 153,254 shares valued at approximately $7.2 million, representing about 0.26% of the company's stock.
• Major shareholder Bruce R. Berkowitz sold 29,000 shares of St. Joe, worth around $1.45 million, reducing his ownership by 0.18% and still holding approximately 16.5 million shares.
• St. Joe recently announced a quarterly dividend of $0.14 per share, with a dividend yield of 1.1% and a payout ratio of 39.44%.

Nuveen LLC bought a new stake in St. Joe Company (The) (NYSE:JOE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 153,254 shares of the financial services provider's stock, valued at approximately $7,195,000. Nuveen LLC owned about 0.26% of St. Joe as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Viewpoint Capital Management LLC boosted its stake in shares of St. Joe by 7.3% during the first quarter. Viewpoint Capital Management LLC now owns 7,384 shares of the financial services provider's stock valued at $347,000 after acquiring an additional 500 shares during the last quarter. Lumbard & Kellner LLC boosted its stake in shares of St. Joe by 4.7% during the first quarter. Lumbard & Kellner LLC now owns 14,557 shares of the financial services provider's stock valued at $683,000 after acquiring an additional 653 shares during the last quarter. Legacy Capital Group California Inc. boosted its stake in shares of St. Joe by 13.7% during the first quarter. Legacy Capital Group California Inc. now owns 5,570 shares of the financial services provider's stock valued at $262,000 after acquiring an additional 671 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of St. Joe by 4.0% during the fourth 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. Finally, Lazard Asset Management LLC acquired a new stake in shares of St. Joe during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 86.67% of the company's stock.

Insiders Place Their Bets

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 81,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $50.46, for a total transaction of $4,087,260.00. Following the completion of the sale, the insider owned 16,454,024 shares in the company, valued at $830,270,051.04. This trade represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 486,600 shares of company stock worth $24,732,417. 0.32% of the stock is owned by company insiders.

St. Joe Stock Down 0.1%

Shares of NYSE:JOE traded down $0.04 during mid-day trading on Friday, hitting $50.62. 46,954 shares of the company traded hands, compared to its average volume of 250,575. The firm has a market cap of $2.93 billion, a P/E ratio of 35.69 and a beta of 1.37. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 1.45. St. Joe Company has a 52-week low of $40.19 and a 52-week high of $62.49. The firm's 50 day simple moving average is $49.98 and its 200 day simple moving average is $46.80.

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

St. Joe Announces Dividend

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 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 is Friday, August 22nd. St. Joe's dividend payout ratio (DPR) is 39.44%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered St. Joe from a "buy" rating to a "hold" rating in a research note 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.