St. Joe Company (The) $JOE Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its St. Joe position by 88.8% in the first quarter, selling 43,318 shares and retaining 5,462 shares worth approximately $343,000. Institutional investors still own 86.67% of the company.
• St. Joe shares opened at $62.09, with a market capitalization of $3.53 billion and a price-to-earnings ratio of 29.01. The company reported quarterly earnings of $0.71 per share on revenue of $158.86 million.
• The company declared a quarterly dividend of $0.16, representing an annualized dividend of $0.64 and a 1.0% yield. Analyst sentiment remains cautious, with Weiss Ratings downgrading the stock to “hold” and the overall consensus rating at “Hold.”

Healthcare of Ontario Pension Plan Trust Fund decreased its position in St. Joe Company (The) (NYSE:JOE - Free Report) by 88.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,462 shares of the financial services provider's stock after selling 43,318 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in St. Joe were worth $343,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in JOE. State Street Corp boosted its holdings in St. Joe by 1.5% in the 4th quarter. State Street Corp now owns 1,430,583 shares of the financial services provider's stock valued at $84,934,000 after purchasing an additional 21,309 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of St. Joe by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 994,963 shares of the financial services provider's stock worth $59,081,000 after buying an additional 11,621 shares in the last quarter. Nitor Capital Management LLC acquired a new stake in shares of St. Joe in the 4th quarter valued at approximately $31,789,000. Victory Capital Management Inc. lifted its holdings in shares of St. Joe by 5.4% in the 4th quarter. Victory Capital Management Inc. now owns 429,376 shares of the financial services provider's stock valued at $25,492,000 after buying an additional 21,938 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in St. Joe by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 364,009 shares of the financial services provider's stock worth $21,611,000 after acquiring an additional 3,007 shares in the last quarter. 86.67% of the stock is owned by hedge funds and other institutional investors.

St. Joe Stock Down 0.2%

JOE opened at $62.09 on Monday. St. Joe Company has a 12 month low of $46.37 and a 12 month high of $73.54. The business has a 50-day moving average of $63.14 and a two-hundred day moving average of $65.67. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 29.01 and a beta of 1.29.

St. Joe (NYSE:JOE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.71 earnings per share for the quarter. The company had revenue of $158.86 million for the quarter. St. Joe had a net margin of 22.45% and a return on equity of 15.90%.

St. Joe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 21st will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. St. Joe's dividend payout ratio is presently 29.91%.

Insiders Place Their Bets

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 189,200 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $65.78, for a total value of $12,445,576.00. Following the completion of the sale, the insider owned 15,884,424 shares of the company's stock, valued at $1,044,877,410.72. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 1,000,000 shares of company stock valued at $65,585,733. 0.35% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of St. Joe from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, St. Joe presently has a consensus rating of "Hold".

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.

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