Stonegate Investment Group LLC Trims Stock Position in The St. Joe Company (NYSE:JOE)

Stonegate Investment Group LLC lowered its stake in shares of The St. Joe Company (NYSE:JOEFree Report) by 1.7% in the fourth quarter, HoldingsChannel reports. The fund owned 16,446 shares of the financial services provider’s stock after selling 278 shares during the quarter. Stonegate Investment Group LLC’s holdings in St. Joe were worth $990,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Raymond James & Associates boosted its holdings in shares of St. Joe by 23.1% in the 1st quarter. Raymond James & Associates now owns 39,765 shares of the financial services provider’s stock valued at $2,356,000 after purchasing an additional 7,471 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in St. Joe by 2.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 26,725 shares of the financial services provider’s stock valued at $1,583,000 after acquiring an additional 669 shares during the last quarter. Bank of New York Mellon Corp grew its position in St. Joe by 4.7% during the first quarter. Bank of New York Mellon Corp now owns 341,731 shares of the financial services provider’s stock valued at $20,245,000 after acquiring an additional 15,416 shares during the period. American Century Companies Inc. increased its stake in St. Joe by 7.3% during the first quarter. American Century Companies Inc. now owns 5,548 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 376 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in shares of St. Joe in the 1st quarter worth about $269,000. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at St. Joe

In other news, Director Bruce R. Berkowitz sold 3,200 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $54.85, for a total value of $175,520.00. Following the completion of the sale, the director now 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 Securities & Exchange Commission, which is available through this link. In other news, Director Bruce R. Berkowitz sold 3,200 shares of St. Joe stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $54.85, for a total transaction of $175,520.00. Following the sale, the director now owns 19,387,024 shares in the company, valued at $1,063,378,266.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Berkowitz sold 4,500 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $55.38, for a total transaction of $249,210.00. Following the completion of the transaction, the director now owns 19,390,224 shares of the company’s stock, valued at $1,073,830,605.12. The disclosure for this sale can be found here. In the last three months, insiders sold 106,800 shares of company stock worth $5,780,959. Corporate insiders own 41.60% of the company’s stock.

St. Joe Stock Performance

NYSE JOE opened at $55.69 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.47 and a quick ratio of 1.47. The St. Joe Company has a 1-year low of $38.81 and a 1-year high of $65.99. The firm has a market capitalization of $3.25 billion, a P/E ratio of 41.56 and a beta of 1.30. The business’s 50-day simple moving average is $54.83 and its 200-day simple moving average is $54.21.

St. Joe (NYSE:JOEGet Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $0.23 earnings per share for the quarter. St. Joe had a net margin of 19.96% and a return on equity of 11.40%. The firm had revenue of $86.70 million for the quarter.

St. Joe Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Monday, March 4th were given a dividend of $0.12 per share. The ex-dividend date was Friday, March 1st. This represents a $0.48 dividend on an annualized basis and a yield of 0.86%. St. Joe’s dividend payout ratio (DPR) is 35.82%.

About St. Joe

(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.

See Also

Want to see what other hedge funds are holding JOE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The St. Joe Company (NYSE:JOEFree Report).

Institutional Ownership by Quarter for St. Joe (NYSE:JOE)

Receive News & Ratings for St. Joe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for St. Joe and related companies with MarketBeat.com's FREE daily email newsletter.