Sterling Investment Management LLC Buys Shares of 21,249 The St. Joe Company (NYSE:JOE)

Sterling Investment Management LLC acquired a new position in shares of The St. Joe Company (NYSE:JOE) in the 1st quarter, Holdings Channel reports. The fund acquired 21,249 shares of the financial services provider’s stock, valued at approximately $998,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in shares of St. Joe during the fourth quarter worth $38,000. Millennium Management LLC lifted its position in St. Joe by 2,785.5% during the fourth quarter. Millennium Management LLC now owns 209,917 shares of the financial services provider’s stock valued at $9,432,000 after purchasing an additional 202,642 shares during the period. Steward Partners Investment Advisory LLC lifted its position in St. Joe by 108.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 11,297 shares of the financial services provider’s stock valued at $508,000 after purchasing an additional 5,875 shares during the period. Swiss National Bank lifted its position in St. Joe by 17.5% during the fourth quarter. Swiss National Bank now owns 80,400 shares of the financial services provider’s stock valued at $3,612,000 after purchasing an additional 12,000 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in St. Joe by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,508 shares of the financial services provider’s stock valued at $921,000 after purchasing an additional 782 shares during the period. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at St. Joe

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 2,900 shares of St. Joe stock in a transaction on 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 of the company’s stock, valued at approximately $796,378,734.24. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 38.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of St. Joe from a “buy” rating to a “hold” rating in a research report on Sunday.

St. Joe Trading Down 1.0%

NYSE JOE opened at $47.16 on Thursday. The company has a market capitalization of $2.75 billion, a PE ratio of 39.97 and a beta of 1.36. The company has a fifty day moving average of $43.82 and a 200 day moving average of $45.87. The St. Joe Company has a 1 year low of $40.19 and a 1 year high of $64.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.34 and a quick ratio of 1.34.

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

St. Joe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be issued a $0.14 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.56 dividend on an annualized basis and a yield of 1.19%. St. Joe’s payout ratio is 42.11%.

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.