SG Americas Securities LLC Grows Stake in St. Joe Company (The) $JOE

Key Points

• SG Americas Securities LLC boosted its stake in The St. Joe Company by 138.2% in Q4, buying 22,547 shares to hold 38,860 shares worth about $2.31 million (≈0.07% of the company).
• Major shareholder Bruce R. Berkowitz sold 21,100 shares on March 17 for roughly $1.52 million, part of insider sales of 179,100 shares in the past 90 days; insiders now own 0.32% of JOE.
• Analyst sentiment is mixed: Wall Street Zen downgraded JOE to "hold" while Weiss Ratings reaffirmed a "buy (b-)", and MarketBeat shows a consensus rating of "Buy".

SG Americas Securities LLC lifted its stake in St. Joe Company (The) (NYSE:JOE - Free Report) by 138.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,860 shares of the financial services provider's stock after buying an additional 22,547 shares during the period. SG Americas Securities LLC owned approximately 0.07% of St. Joe worth $2,307,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of JOE. Vanguard Group Inc. raised its holdings in shares of St. Joe by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,959,298 shares of the financial services provider's stock valued at $294,866,000 after buying an additional 179,877 shares during the period. State Street Corp raised its stake in shares of St. Joe by 0.7% during the second quarter. State Street Corp now owns 1,396,004 shares of the financial services provider's stock valued at $66,589,000 after purchasing an additional 9,301 shares during the period. Victory Capital Management Inc. lifted its position in shares of St. Joe by 54.7% during the third quarter. Victory Capital Management Inc. now owns 407,438 shares of the financial services provider's stock worth $20,160,000 after purchasing an additional 144,121 shares in the last quarter. Diversified Investment Strategies LLC lifted its position in shares of St. Joe by 1.3% during the third quarter. Diversified Investment Strategies LLC now owns 279,850 shares of the financial services provider's stock worth $13,847,000 after purchasing an additional 3,603 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of St. Joe by 1.0% in the third quarter. Bank of America Corp DE now owns 214,022 shares of the financial services provider's stock valued at $10,590,000 after purchasing an additional 2,096 shares during the period. Institutional investors and hedge funds own 86.67% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on JOE shares. Wall Street Zen downgraded shares of St. Joe from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Weiss Ratings reissued a "buy (b-)" rating on shares of St. Joe in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy".

Insider Activity at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 21,100 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $72.22, for a total transaction of $1,523,842.00. Following the completion of the sale, the insider directly owned 16,073,624 shares of the company's stock, valued at $1,160,837,125.28. This represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 179,100 shares of company stock valued at $12,244,315. 0.32% of the stock is owned by insiders.

St. Joe Trading Down 0.1%

St. Joe stock opened at $65.12 on Friday. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 32.56 and a beta of 1.39. The firm has a 50-day moving average price of $67.83 and a two-hundred day moving average price of $60.66. St. Joe Company has a 52-week low of $40.19 and a 52-week high of $73.54. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.73.

St. Joe (NYSE:JOE - Get Free Report) last announced its earnings results on Wednesday, February 25th. The financial services provider reported $0.52 earnings per share for the quarter. The business had revenue of $128.89 million during the quarter. St. Joe had a return on equity of 15.23% and a net margin of 22.52%.

St. Joe Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Monday, March 9th were paid a $0.16 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. St. Joe's payout ratio is currently 32.00%.

St. Joe Company Profile

The St. Joe Company NYSE: JOE is a leading real estate development and asset management firm focused on Northwest Florida. Headquartered in Jacksonville, the company owns and manages approximately 171,000 acres of land across Bay, Gulf, Franklin and Walton counties. St. Joe's core businesses include residential community development, commercial real estate, and hospitality, with an emphasis on master-planned neighborhoods, office and retail campuses, resort hotels and mixed-use town centers.

Founded in 1936 as a paper manufacturing company, St.

Want to see what other hedge funds are holding JOE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for St. Joe Company (The) (NYSE:JOE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.