Capital Research Global Investors Sells 170,546 Shares of St. Joe Company (The) $JOE

Capital Research Global Investors decreased its holdings in shares of St. Joe Company (The) (NYSE:JOE) by 15.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 930,218 shares of the financial services provider’s stock after selling 170,546 shares during the quarter. Capital Research Global Investors’ holdings in St. Joe were worth $46,027,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Financial Consulate Inc. bought a new stake in shares of St. Joe in the 3rd quarter worth about $31,000. EverSource Wealth Advisors LLC raised its position in shares of St. Joe by 155.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock valued at $31,000 after buying an additional 397 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of St. Joe by 2,265.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 686 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 657 shares during the last quarter. Smartleaf Asset Management LLC grew its position in St. Joe by 31.8% in the second quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 236 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in St. Joe by 21.5% during the third quarter. GAMMA Investing LLC now owns 1,573 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 278 shares during the last quarter. 86.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on JOE shares. Wall Street Zen downgraded St. Joe from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of St. Joe in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy”.

Insider Buying and Selling

In other news, major shareholder Bruce R. Berkowitz sold 87,700 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $65.51, for a total value of $5,745,227.00. Following the completion of the sale, the insider owned 16,165,024 shares in the company, valued at approximately $1,058,970,722.24. The trade was a 0.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 229,900 shares of company stock worth $15,201,327. Company insiders own 0.32% of the company’s stock.

St. Joe Stock Down 2.3%

Shares of JOE opened at $69.31 on Friday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $3.99 billion, a P/E ratio of 34.65 and a beta of 1.30. The firm has a fifty day moving average price of $67.38 and a 200-day moving average price of $59.01. St. Joe Company has a 12-month low of $40.19 and a 12-month high of $73.54.

St. Joe (NYSE:JOE) last issued its earnings results on Wednesday, February 25th. The financial services provider reported $0.52 EPS for the quarter. St. Joe had a net margin of 22.52% and a return on equity of 15.23%. The business had revenue of $128.89 million for the quarter.

St. Joe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Monday, March 9th will be paid a dividend of $0.16 per share. The ex-dividend date is Monday, March 9th. This represents a $0.64 annualized dividend and a dividend yield of 0.9%. St. Joe’s dividend payout ratio (DPR) is currently 32.00%.

St. Joe Profile

The St. Joe Company (NYSE: JOE) is a leading real estate development and asset management firm focused on Northwest Florida. Headquartered in Jacksonville, the company owns and manages approximately 171,000 acres of land across Bay, Gulf, Franklin and Walton counties. St. Joe’s core businesses include residential community development, commercial real estate, and hospitality, with an emphasis on master-planned neighborhoods, office and retail campuses, resort hotels and mixed-use town centers.

Founded in 1936 as a paper manufacturing company, St.