Geode Capital Management LLC Raises Stake in The St. Joe Company (NYSE:JOE)

Geode Capital Management LLC raised its stake in The St. Joe Company (NYSE:JOE) by 2.7% during the third quarter, Holdings Channel reports. The fund owned 898,637 shares of the financial services provider’s stock after buying an additional 23,973 shares during the period. Geode Capital Management LLC’s holdings in St. Joe were worth $52,409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of JOE. International Assets Investment Management LLC purchased a new position in St. Joe in the third quarter valued at approximately $680,000. Los Angeles Capital Management LLC bought a new stake in shares of St. Joe in the third quarter valued at $1,237,000. Algert Global LLC boosted its position in St. Joe by 9.4% during the second quarter. Algert Global LLC now owns 134,851 shares of the financial services provider’s stock worth $7,376,000 after purchasing an additional 11,592 shares during the period. Citigroup Inc. boosted its holdings in St. Joe by 130.5% in the 3rd quarter. Citigroup Inc. now owns 67,539 shares of the financial services provider’s stock worth $3,938,000 after buying an additional 38,243 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 worth $20,855,000 after acquiring an additional 22,187 shares during the period. 86.67% of the stock is owned by institutional investors.

St. Joe Stock Up 1.7 %

JOE stock opened at $44.55 on Monday. The stock has a 50-day simple moving average of $51.41 and a two-hundred day simple moving average of $55.46. The firm has a market capitalization of $2.60 billion, a PE ratio of 37.75 and a beta of 1.25. The St. Joe Company has a twelve month low of $43.50 and a twelve month high of $64.69. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.85.

St. Joe Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 7th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.56 annualized dividend and a dividend yield of 1.26%. St. Joe’s payout ratio is currently 47.46%.

Insiders Place Their Bets

In other news, major shareholder Bruce R. Berkowitz sold 15,000 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $50.89, for a total transaction of $763,350.00. Following the transaction, the insider now directly owns 17,770,024 shares in the company, valued at approximately $904,316,521.36. This represents a 0.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jorge Luis Gonzalez acquired 1,695 shares of the stock in a transaction dated Friday, October 25th. The stock was acquired at an average price of $53.05 per share, with a total value of $89,919.75. Following the completion of the acquisition, the chief executive officer now owns 60,093 shares in the company, valued at approximately $3,187,933.65. The trade was a 2.90 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 449,400 shares of company stock worth $23,953,600 in the last ninety days. 38.80% of the stock is currently owned by insiders.

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.