Millennium Management LLC Increases Stock Holdings in The St. Joe Company (NYSE:JOE)

Millennium Management LLC increased its position in The St. Joe Company (NYSE:JOE - Free Report) by 2,785.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 209,917 shares of the financial services provider's stock after purchasing an additional 202,642 shares during the period. Millennium Management LLC owned 0.36% of St. Joe worth $9,432,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of St. Joe by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 6,197,402 shares of the financial services provider's stock worth $278,449,000 after acquiring an additional 252,906 shares during the last quarter. Berkley W R Corp acquired a new stake in St. Joe during the 4th quarter worth $9,415,000. Norges Bank purchased a new position in St. Joe during the 4th quarter worth $4,981,000. Raymond James Financial Inc. purchased a new position in St. Joe during the 4th quarter worth $4,657,000. Finally, Marshall Wace LLP purchased a new stake in shares of St. Joe in the fourth quarter valued at about $2,628,000. Hedge funds and other institutional investors own 86.67% of the company's stock.

Insider Activity at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 2,900 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $47.01, for a total value of $136,329.00. Following the completion of the transaction, the insider now owns 16,940,624 shares in the company, valued at $796,378,734.24. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 300,000 shares of company stock worth $14,113,022 over the last 90 days. Company insiders own 0.32% of the company's stock.

St. Joe Stock Performance

Shares of JOE traded up $0.92 during mid-day trading on Tuesday, hitting $44.17. 198,853 shares of the company's stock were exchanged, compared to its average volume of 221,653. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.85. The St. Joe Company has a fifty-two week low of $40.19 and a fifty-two week high of $64.69. The business's 50 day moving average is $44.04 and its two-hundred day moving average is $46.22. The firm has a market capitalization of $2.57 billion, a P/E ratio of 37.43 and a beta of 1.37.

St. Joe (NYSE:JOE - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.30 earnings per share for the quarter. St. Joe had a return on equity of 9.58% and a net margin of 17.76%. The company had revenue of $94.20 million for the quarter.

St. Joe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.56 annualized dividend and a yield of 1.27%. St. Joe's dividend payout ratio is currently 42.11%.

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.