St. Joe Company (The) $JOE Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in St. Joe Company by 21.1% in Q1, now owning 35,237 shares valued at approximately $1.65 million.
• St. Joe Company announced a quarterly dividend of $0.14 per share, with an annual yield of 1.1% and a payout ratio of 39.44%.
• Insider Bruce R. Berkowitz sold 167,500 shares of St. Joe, decreasing his position by 1%, while company insiders collectively own 38.80% of the stock.

Russell Investments Group Ltd. lifted its holdings in shares of St. Joe Company (The) (NYSE:JOE - Free Report) by 21.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,237 shares of the financial services provider's stock after acquiring an additional 6,136 shares during the period. Russell Investments Group Ltd. owned 0.06% of St. Joe worth $1,654,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Berkley W R Corp acquired a new stake in St. Joe during the 4th quarter worth approximately $9,415,000. Millennium Management LLC lifted its position in 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 worth $9,432,000 after acquiring an additional 202,642 shares during the period. Nuveen LLC acquired a new stake in St. Joe during the 1st quarter worth approximately $7,195,000. Voloridge Investment Management LLC lifted its position in St. Joe by 373.3% during the 4th quarter. Voloridge Investment Management LLC now owns 149,650 shares of the financial services provider's stock worth $6,724,000 after acquiring an additional 118,029 shares during the period. Finally, Mills Wealth Advisors LLC acquired a new stake in St. Joe during the 1st quarter worth approximately $2,977,000. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at St. Joe

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

St. Joe Price Performance

JOE stock traded down $0.10 during midday trading on Friday, hitting $50.56. 164,160 shares of the stock were exchanged, compared to its average volume of 229,285. The stock's 50-day moving average price is $50.06 and its 200-day moving average price is $46.83. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 35.61 and a beta of 1.37. St. Joe Company has a fifty-two week low of $40.19 and a fifty-two week high of $62.49. 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 (NYSE:JOE - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.51 earnings per share for the quarter. The company had revenue of $129.10 million during 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. Stockholders of record on Friday, August 22nd will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. St. Joe's payout ratio is currently 39.44%.

Analyst Ratings Changes

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