T. Rowe Price Investment Management Inc. Has $21.72 Million Stake in St. Joe Company (The) $JOE

Key Points

• T. Rowe Price Investment Management Inc. has decreased its stake in St. Joe Company by 22.3%, selling 132,700 shares and holding approximately 0.79% of the company valued at $21.7 million.
• Multiple hedge funds have recently adjusted their positions in St. Joe, with Envestnet Asset Management increasing its stake by 29.1%, now owning 13,528 shares worth about $608,000.
• St. Joe announced a quarterly dividend of $0.14 per share, representing a 1.1% dividend yield, with the payout expected on September 19th to stockholders of record on August 22nd.

T. Rowe Price Investment Management Inc. lowered its stake in shares of St. Joe Company (The) (NYSE:JOE - Free Report) by 22.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 462,533 shares of the financial services provider's stock after selling 132,700 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.79% of St. Joe worth $21,716,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in shares of St. Joe in the 1st quarter valued at $263,000. SG Americas Securities LLC bought a new position in shares of St. Joe in the 1st quarter valued at $475,000. Lazard Asset Management LLC bought a new position in shares of St. Joe in the 4th quarter valued at $38,000. Millennium Management LLC lifted its stake in shares of St. Joe by 2,785.5% in the 4th quarter. Millennium Management LLC now owns 209,917 shares of the financial services provider's stock valued at $9,432,000 after acquiring an additional 202,642 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of St. Joe by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,508 shares of the financial services provider's stock valued at $921,000 after acquiring an additional 782 shares during the last quarter. Institutional investors and hedge funds own 86.67% of the company's stock.

St. Joe Trading Up 0.1%

NYSE:JOE traded up $0.06 during trading hours on Wednesday, hitting $50.84. 249,242 shares of the company were exchanged, compared to its average volume of 252,308. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 35.80 and a beta of 1.37. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. St. Joe Company has a one year low of $40.19 and a one year high of $62.49. The company has a fifty day simple moving average of $49.82 and a 200 day simple moving average of $46.75.

St. Joe (NYSE:JOE - Get Free Report) last announced 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 business had revenue of $129.10 million during the quarter.

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 annualized dividend and a dividend yield of 1.1%. St. Joe's dividend payout ratio (DPR) is 39.44%.

Wall Street Analyst Weigh In

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

Insider Activity at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 81,000 shares of the firm's stock in a transaction dated 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 directly owned 16,454,024 shares in the company, valued at $830,270,051.04. This trade represents a 0.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 486,600 shares of company stock valued at $24,732,417. Company insiders own 38.80% of the company's stock.

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.