St. Joe Company (The) (NYSE:JOE) Stake Lessened by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its stake in St. Joe Company (The) (NYSE:JOE) by 13.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,077 shares of the financial services provider’s stock after selling 1,741 shares during the period. Maryland State Retirement & Pension System’s holdings in St. Joe were worth $520,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Viewpoint Capital Management LLC boosted its holdings in shares of St. Joe by 7.3% in the first quarter. Viewpoint Capital Management LLC now owns 7,384 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 500 shares in the last quarter. Lumbard & Kellner LLC boosted its holdings in shares of St. Joe by 4.7% in the first quarter. Lumbard & Kellner LLC now owns 14,557 shares of the financial services provider’s stock valued at $683,000 after acquiring an additional 653 shares in the last quarter. Legacy Capital Group California Inc. boosted its holdings in shares of St. Joe by 13.7% in the first quarter. Legacy Capital Group California Inc. now owns 5,570 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 671 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of St. Joe by 4.0% in 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 acquiring an additional 782 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of St. Joe in the fourth quarter valued at approximately $38,000. 86.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Bruce R. Berkowitz sold 44,000 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $50.72, for a total value of $2,231,680.00. Following the completion of the sale, the insider owned 16,590,024 shares in the company, valued at approximately $841,446,017.28. This represents a 0.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 350,600 shares of company stock worth $17,882,167 in the last ninety days. Company insiders own 0.32% of the company’s stock.

St. Joe Trading Down 1.8%

Shares of NYSE:JOE opened at $50.70 on Friday. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 35.70 and a beta of 1.37. St. Joe Company has a 1-year low of $40.19 and a 1-year high of $62.49. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 1.45. The company has a 50 day moving average price of $49.26 and a 200 day moving average price of $46.65.

St. Joe (NYSE:JOE) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $0.51 earnings per share for the quarter. The firm had revenue of $129.10 million during the quarter. St. Joe had a net margin of 19.39% and a return on equity of 11.19%.

St. Joe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, August 22nd. St. Joe’s dividend payout ratio (DPR) is presently 39.44%.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of St. Joe from a “buy” rating to a “hold” rating in a report on Sunday, June 8th.

St. Joe Company Profile

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.