River Road Asset Management LLC boosted its holdings in shares of The St. Joe Company (NYSE:JOE - Free Report) by 22.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,387 shares of the financial services provider's stock after purchasing an additional 22,159 shares during the quarter. River Road Asset Management LLC owned about 0.20% of St. Joe worth $7,185,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Select Equity Group L.P. bought a new stake in St. Joe in the 1st quarter valued at $26,027,000. T. Rowe Price Investment Management Inc. lifted its position in shares of St. Joe by 23.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,912,910 shares of the financial services provider's stock worth $112,584,000 after acquiring an additional 561,323 shares during the period. Norges Bank bought a new stake in shares of St. Joe in the 4th quarter worth approximately $12,836,000. BlackRock Inc. grew its holdings in shares of St. Joe by 3.3% during the 3rd quarter. BlackRock Inc. now owns 5,252,502 shares of the financial services provider's stock worth $168,239,000 after purchasing an additional 166,505 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of St. Joe by 1,037.6% during the second quarter. Millennium Management LLC now owns 125,872 shares of the financial services provider's stock valued at $4,979,000 after purchasing an additional 114,807 shares during the period. Institutional investors and hedge funds own 86.67% of the company's stock.
Insider Buying and Selling at St. Joe
In other St. Joe news, Director Bruce R. Berkowitz sold 3,200 shares of St. Joe stock in a transaction on Monday, February 26th. The stock was sold at an average price of $54.85, for a total transaction of $175,520.00. Following the completion of the transaction, the director now directly owns 19,387,024 shares of the company's stock, valued at $1,063,378,266.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Bruce R. Berkowitz sold 3,200 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $54.85, for a total transaction of $175,520.00. Following the completion of the sale, the director now owns 19,387,024 shares in the company, valued at approximately $1,063,378,266.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Berkowitz sold 3,100 shares of St. Joe stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $54.04, for a total transaction of $167,524.00. Following the transaction, the director now directly owns 19,327,424 shares of the company's stock, valued at $1,044,453,992.96. The disclosure for this sale can be found here. Insiders have sold 106,800 shares of company stock worth $5,780,959 over the last three months. Company insiders own 38.80% of the company's stock.
St. Joe Stock Performance
JOE stock traded down $0.46 during midday trading on Thursday, hitting $54.20. The stock had a trading volume of 190,617 shares, compared to its average volume of 182,430. The St. Joe Company has a 52 week low of $38.81 and a 52 week high of $65.99. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 40.79 and a beta of 1.30. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.90. The stock has a 50-day simple moving average of $55.08 and a 200 day simple moving average of $54.28.
St. Joe (NYSE:JOE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $0.23 earnings per share (EPS) for the quarter. The firm had revenue of $86.70 million during the quarter. St. Joe had a net margin of 19.96% and a return on equity of 11.40%.
St. Joe Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Monday, March 4th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Friday, March 1st. St. Joe's dividend payout ratio is 35.82%.
St. Joe Company Profile
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Free Report)
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.
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