Invesco Ltd. Increases Stock Holdings in St. Joe Company (The) $JOE

Key Points

• Invesco Ltd. increased its holdings in St. Joe Company by 84.5% during the first quarter, owning approximately 0.20% of the company, valued at $5,394,000.
• St. Joe Company declared a quarterly dividend of $0.14 per share, set to be paid on September 19th, reflecting an annualized yield of 1.1%.
• Major shareholder Bruce R. Berkowitz sold 167,500 shares at an average price of $51.44, decreasing his ownership by 1%, while insiders have sold a total of 486,600 shares over the last 90 days.

Invesco Ltd. increased its stake in shares of St. Joe Company (The) (NYSE:JOE - Free Report) by 84.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,888 shares of the financial services provider's stock after purchasing an additional 52,603 shares during the quarter. Invesco Ltd. owned 0.20% of St. Joe worth $5,394,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Northern Trust Corp lifted its holdings in shares of St. Joe by 7.4% during the fourth quarter. Northern Trust Corp now owns 434,283 shares of the financial services provider's stock worth $19,512,000 after purchasing an additional 29,918 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of St. Joe by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 371,097 shares of the financial services provider's stock worth $17,423,000 after purchasing an additional 6,538 shares during the period. Schwartz Investment Counsel Inc. lifted its holdings in shares of St. Joe by 23.1% during the first quarter. Schwartz Investment Counsel Inc. now owns 330,400 shares of the financial services provider's stock worth $15,512,000 after purchasing an additional 62,000 shares during the period. Millennium Management LLC lifted its holdings in shares of St. Joe by 2,785.5% during the fourth quarter. Millennium Management LLC now owns 209,917 shares of the financial services provider's stock worth $9,432,000 after purchasing an additional 202,642 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of St. Joe by 2.3% during the first quarter. Principal Financial Group Inc. now owns 189,390 shares of the financial services provider's stock worth $8,892,000 after purchasing an additional 4,324 shares during the period. 86.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 167,500 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $51.44, for a total value of $8,616,200.00. Following the completion of the transaction, the insider owned 16,634,024 shares in the company, valued at $855,654,194.56. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 486,600 shares of company stock valued at $24,732,417 in the last three months. Company insiders own 38.80% of the company's stock.

Analyst Ratings Changes

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

St. Joe Price Performance

NYSE:JOE traded down $0.10 during trading hours on Monday, hitting $50.56. The company's stock had a trading volume of 164,160 shares, compared to its average volume of 226,522. The business's 50-day moving average is $50.06 and its two-hundred day moving average is $46.83. The company has a market capitalization of $2.93 billion, a PE ratio of 35.61 and a beta of 1.35. 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.

St. Joe (NYSE:JOE - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter. The firm 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 Dividend Announcement

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 given a $0.14 dividend. The ex-dividend date is Friday, August 22nd. This represents a $0.56 annualized dividend and a yield of 1.1%. St. Joe's dividend payout ratio is presently 39.44%.

St. Joe Company 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.