SG Americas Securities LLC Cuts Stake in St. Joe Company (The) $JOE

SG Americas Securities LLC reduced its stake in shares of St. Joe Company (The) (NYSE:JOE) by 31.6% during the 1st quarter, HoldingsChannel reports. The fund owned 26,582 shares of the financial services provider’s stock after selling 12,278 shares during the period. SG Americas Securities LLC’s holdings in St. Joe were worth $1,669,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Nations Financial Group Inc. IA ADV raised its stake in St. Joe by 44.8% during the first quarter. Nations Financial Group Inc. IA ADV now owns 9,700 shares of the financial services provider’s stock worth $609,000 after purchasing an additional 3,000 shares during the period. Cross Staff Investments Inc acquired a new stake in shares of St. Joe during the 4th quarter worth $232,000. Invesco Ltd. increased its holdings in shares of St. Joe by 47.6% during the 4th quarter. Invesco Ltd. now owns 169,191 shares of the financial services provider’s stock worth $10,045,000 after buying an additional 54,601 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of St. Joe in the 4th quarter worth $222,000. Finally, State of Tennessee Department of Treasury raised its position in shares of St. Joe by 23.6% in the 4th quarter. State of Tennessee Department of Treasury now owns 15,148 shares of the financial services provider’s stock worth $899,000 after buying an additional 2,889 shares during the period. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 189,200 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $65.78, for a total value of $12,445,576.00. Following the completion of the sale, the insider owned 15,884,424 shares of the company’s stock, valued at $1,044,877,410.72. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 1,000,000 shares of company stock valued at $65,585,733. 0.35% of the stock is owned by corporate insiders.

St. Joe Trading Down 0.3%

NYSE:JOE opened at $61.25 on Friday. The business’s 50-day moving average is $65.14 and its two-hundred day moving average is $65.63. The firm has a market capitalization of $3.52 billion, a PE ratio of 31.57 and a beta of 1.29. St. Joe Company has a 12 month low of $46.37 and a 12 month high of $73.54. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.36 and a quick ratio of 2.36.

St. Joe (NYSE:JOE) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share for the quarter. St. Joe had a return on equity of 14.59% and a net margin of 21.61%.The company had revenue of $99.04 million during the quarter.

St. Joe Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Tuesday, June 9th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.64 annualized dividend and a yield of 1.0%. St. Joe’s payout ratio is 32.99%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

About St. Joe

The St. Joe Company (NYSE: JOE) is a leading real estate development and asset management firm focused on Northwest Florida. Headquartered in Jacksonville, the company owns and manages approximately 171,000 acres of land across Bay, Gulf, Franklin and Walton counties. St. Joe’s core businesses include residential community development, commercial real estate, and hospitality, with an emphasis on master-planned neighborhoods, office and retail campuses, resort hotels and mixed-use town centers.

Founded in 1936 as a paper manufacturing company, St.