The St. Joe Company (NYSE:JOE) Shares Sold by Algert Global LLC

Algert Global LLC cut its stake in shares of The St. Joe Company (NYSE:JOE) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 134,635 shares of the financial services provider’s stock after selling 216 shares during the quarter. Algert Global LLC owned about 0.23% of St. Joe worth $7,851,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Citigroup Inc. grew its stake 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 purchasing an additional 38,243 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of St. Joe by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 357,655 shares of the financial services provider’s stock worth $20,855,000 after purchasing an additional 22,187 shares during the period. Intech Investment Management LLC grew its stake in shares of St. Joe by 55.3% during the 3rd quarter. Intech Investment Management LLC now owns 7,295 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 2,597 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of St. Joe by 0.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 29,808 shares of the financial services provider’s stock worth $1,738,000 after purchasing an additional 236 shares during the period. Finally, KBC Group NV grew its stake in shares of St. Joe by 35.8% during the 3rd quarter. KBC Group NV now owns 1,483 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 391 shares during the period. 86.67% of the stock is owned by institutional investors and hedge funds.

St. Joe Stock Performance

NYSE:JOE opened at $50.59 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.85. The St. Joe Company has a fifty-two week low of $49.36 and a fifty-two week high of $64.69. The stock has a market cap of $2.95 billion, a PE ratio of 42.87 and a beta of 1.27. The firm’s fifty day simple moving average is $55.62 and its 200-day simple moving average is $56.68.

St. Joe Announces Dividend

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

Insider Buying and Selling

In other St. Joe news, CEO Jorge Luis Gonzalez acquired 1,695 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average cost of $53.05 per share, for a total transaction of $89,919.75. Following the transaction, the chief executive officer now directly owns 60,093 shares of the company’s stock, valued at approximately $3,187,933.65. This represents a 2.90 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bruce R. Berkowitz sold 343,400 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $53.45, for a total transaction of $18,354,730.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 546,600 shares of company stock worth $29,818,648 in the last three months. Corporate insiders own 38.80% of the company’s stock.

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.