Algert Global LLC Cuts Stake in The St. Joe Company (NYSE:JOE)

Algert Global LLC reduced its stake in shares of The St. Joe Company (NYSE:JOE) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,635 shares of the financial services provider’s stock after selling 216 shares during the period. Algert Global LLC’s holdings in St. Joe were worth $7,851,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of JOE. Vanguard Group Inc. lifted its holdings in shares of St. Joe by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 5,765,278 shares of the financial services provider’s stock worth $334,213,000 after acquiring an additional 59,563 shares during the period. Raymond James & Associates lifted its holdings in shares of St. Joe by 169.6% during the 2nd quarter. Raymond James & Associates now owns 89,286 shares of the financial services provider’s stock worth $4,884,000 after acquiring an additional 56,171 shares during the period. Old West Investment Management LLC lifted its holdings in shares of St. Joe by 68.6% during the 3rd quarter. Old West Investment Management LLC now owns 127,374 shares of the financial services provider’s stock worth $7,427,000 after acquiring an additional 51,830 shares during the period. Citigroup Inc. lifted its holdings in shares of St. Joe by 130.5% during the 3rd quarter. Citigroup Inc. now owns 67,539 shares of the financial services provider’s stock worth $3,938,000 after acquiring an additional 38,243 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in St. Joe by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 357,655 shares of the financial services provider’s stock valued at $20,855,000 after buying an additional 22,187 shares during the period. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 343,400 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $53.45, for a total value of $18,354,730.00. Following the transaction, the insider now owns 17,396,624 shares in the company, valued at approximately $929,849,552.80. This trade represents a 1.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jorge Luis Gonzalez purchased 1,695 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average price of $53.05 per share, for a total transaction of $89,919.75. Following the acquisition, the chief executive officer now directly owns 60,093 shares of the company’s stock, valued at $3,187,933.65. This trade represents a 2.90 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 546,600 shares of company stock worth $29,818,648. Company insiders own 38.80% of the company’s stock.

St. Joe Trading Up 1.3 %

NYSE JOE opened at $50.59 on Friday. The St. Joe Company has a one year low of $49.36 and a one year high of $64.69. The company’s 50 day moving average price is $55.62 and its 200 day moving average price is $56.68. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 42.87 and a beta of 1.27.

St. Joe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 7th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.56 annualized dividend and a yield of 1.11%. St. Joe’s payout ratio is 47.46%.

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.