Quantbot Technologies LP Trims Stake in St. Joe Company (The) $JOE

Key Points

• Quantbot Technologies LP sold 7,945 shares of St. Joe Company, reducing its holdings by 23.7% to 25,547 shares, valued at approximately $1.2 million.
• St. Joe Company announced a quarterly dividend of $0.14 per share, with a payout ratio of 39.44% and a dividend yield of 1.1%.
• Major shareholder Bruce R. Berkowitz sold 167,500 shares at an average price of $51.44, reducing his stake by 1.00%.

Quantbot Technologies LP trimmed its holdings in shares of St. Joe Company (The) (NYSE:JOE - Free Report) by 23.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,547 shares of the financial services provider's stock after selling 7,945 shares during the period. Quantbot Technologies LP's holdings in St. Joe were worth $1,199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lazard Asset Management LLC purchased a new position in St. Joe during the fourth quarter valued at approximately $38,000. CWM LLC boosted its stake in shares of St. Joe by 472.4% in the 1st quarter. CWM LLC now owns 3,709 shares of the financial services provider's stock valued at $174,000 after purchasing an additional 3,061 shares during the last quarter. XTX Topco Ltd acquired a new stake in St. Joe during the 4th quarter worth approximately $210,000. Entropy Technologies LP bought a new position in shares of St. Joe in the first quarter valued at $222,000. Finally, Bridgefront Capital LLC bought a new position in St. Joe during the fourth quarter worth $225,000. 86.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In related news, major shareholder Bruce R. Berkowitz sold 81,000 shares of the stock in a transaction dated 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 approximately $830,270,051.04. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 486,600 shares of company stock worth $24,732,417 in the last three months. Company insiders own 0.32% of the company's stock.

St. Joe Price Performance

Shares of NYSE JOE traded down $0.10 during trading hours on Friday, reaching $50.56. 164,160 shares of the stock traded hands, compared to its average volume of 229,285. 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 company's 50-day simple moving average is $50.06 and its two-hundred day simple moving average is $46.83. The company has a market capitalization of $2.93 billion, a P/E ratio of 35.61 and a beta of 1.37. St. Joe Company has a 52-week low of $40.19 and a 52-week high of $62.49.

St. Joe (NYSE:JOE - Get Free Report) last posted 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 return on equity of 11.19% and a net margin of 19.39%.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. Shareholders of record on Friday, August 22nd will be given 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 dividend payout ratio is presently 39.44%.

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.