The St. Joe Company (NYSE:JOE) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its stake in shares of The St. Joe Company (NYSE:JOE - Free Report) by 43.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,248 shares of the financial services provider's stock after selling 27,629 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.06% of St. Joe worth $1,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in St. Joe by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 6,197,402 shares of the financial services provider's stock worth $278,449,000 after purchasing an additional 252,906 shares during the period. Geode Capital Management LLC increased its stake in shares of St. Joe by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 906,668 shares of the financial services provider's stock worth $40,746,000 after acquiring an additional 8,031 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its stake in shares of St. Joe by 7.7% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 564,202 shares of the financial services provider's stock worth $25,350,000 after acquiring an additional 40,354 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in St. Joe by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 364,559 shares of the financial services provider's stock worth $16,380,000 after purchasing an additional 6,904 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in St. Joe by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 347,929 shares of the financial services provider's stock worth $15,632,000 after purchasing an additional 16,514 shares in the last quarter. 86.67% of the stock is owned by hedge funds and other institutional investors.

St. Joe Stock Performance

JOE stock traded down $0.56 during mid-day trading on Wednesday, reaching $45.57. 67,181 shares of the stock traded hands, compared to its average volume of 221,450. The St. Joe Company has a 52 week low of $40.19 and a 52 week high of $64.69. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $2.65 billion, a PE ratio of 38.61 and a beta of 1.37. The business has a 50-day moving average of $44.27 and a two-hundred day moving average of $46.75.

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

St. Joe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be given a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.56 annualized dividend and a yield of 1.23%. St. Joe's payout ratio is 42.11%.

Insiders Place Their Bets

In other news, major shareholder Bruce R. Berkowitz sold 95,700 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $47.11, for a total transaction of $4,508,427.00. Following the completion of the sale, the insider now owns 17,162,524 shares of the company's stock, valued at $808,526,505.64. The trade was a 0.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 300,000 shares of company stock valued at $14,113,022 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

About St. Joe

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.