Vanguard Group Inc. Sells 63,211 Shares of St. Joe Company (The) $JOE

Key Points

• Vanguard Group Inc. reduced its stake in St. Joe Company by 1.0% in Q1, now owning 10.54% of the company, valued at $288 million.
• St. Joe recently declared a quarterly dividend of $0.14 per share, representing an annualized dividend yield of 1.1%.
• Wall Street analysts have downgraded St. Joe from a "buy" to a "hold" rating amidst recent stock volatility and insider trading activities.

Vanguard Group Inc. lowered its position in St. Joe Company (The) (NYSE:JOE - Free Report) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,134,191 shares of the financial services provider's stock after selling 63,211 shares during the period. Vanguard Group Inc. owned approximately 10.54% of St. Joe worth $288,000,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in shares of St. Joe during the 4th quarter worth $38,000. CWM LLC increased its position in shares of St. Joe by 472.4% during the 1st quarter. CWM LLC now owns 3,709 shares of the financial services provider's stock worth $174,000 after purchasing an additional 3,061 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of St. Joe during the 4th quarter worth about $210,000. Bridgefront Capital LLC acquired a new stake in shares of St. Joe during the 4th quarter worth about $225,000. Finally, Corton Capital Inc. purchased a new stake in St. Joe in the fourth quarter valued at approximately $227,000. Hedge funds and other institutional investors own 86.67% of the company's stock.

St. Joe Trading Down 0.4%

Shares of NYSE JOE traded down $0.2180 on Thursday, reaching $48.9520. 59,834 shares of the company traded hands, compared to its average volume of 250,431. 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 50 day moving average of $49.50 and a 200 day moving average of $46.67. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $2.83 billion, a PE ratio of 34.51 and a beta of 1.37.

St. Joe (NYSE:JOE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.51 EPS for the quarter. St. Joe had a net margin of 19.39% and a return on equity of 11.19%. The company had revenue of $129.10 million during the quarter.

St. Joe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.14 per share. 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 dividend payout ratio is currently 39.44%.

Insider Activity at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 167,500 shares of St. Joe stock in a transaction dated 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 transaction, the insider directly owned 16,634,024 shares of the company's stock, valued at $855,654,194.56. The trade was a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 405,600 shares of company stock valued at $20,645,157. Company insiders own 0.32% of the company's stock.

Analyst Ratings Changes

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