St. Joe (NYSE:JOE) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of St. Joe (NYSE:JOE) from a buy rating to a hold rating in a research report released on Sunday.

St. Joe Trading Up 3.3%

NYSE JOE opened at $47.63 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. St. Joe has a twelve month low of $40.19 and a twelve month high of $64.69. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 40.36 and a beta of 1.36. The business’s fifty day moving average is $43.77 and its 200 day moving average is $45.86.

St. Joe (NYSE:JOE) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.30 earnings per share for the quarter. St. Joe had a return on equity of 9.58% and a net margin of 17.76%. The company had revenue of $94.20 million for the quarter.

St. Joe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Tuesday, June 10th. St. Joe’s dividend payout ratio (DPR) is 42.11%.

Insider Buying and Selling

In related news, major shareholder Bruce R. Berkowitz sold 160,300 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $47.00, for a total transaction of $7,534,100.00. Following the completion of the transaction, the insider now directly owns 17,000,724 shares of the company’s stock, valued at $799,034,028. This trade represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Lazard Asset Management LLC bought a new position in St. Joe during the 4th quarter worth $38,000. Millennium Management LLC boosted its position in St. Joe by 2,785.5% during the fourth quarter. Millennium Management LLC now owns 209,917 shares of the financial services provider’s stock valued at $9,432,000 after acquiring an additional 202,642 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of St. Joe by 108.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 11,297 shares of the financial services provider’s stock worth $508,000 after acquiring an additional 5,875 shares in the last quarter. Swiss National Bank raised its position in shares of St. Joe by 17.5% in the 4th quarter. Swiss National Bank now owns 80,400 shares of the financial services provider’s stock worth $3,612,000 after acquiring an additional 12,000 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of St. Joe by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,508 shares of the financial services provider’s stock worth $921,000 after acquiring an additional 782 shares in the last quarter. 86.67% of the stock is owned by institutional investors.

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.