UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Position in St. Joe Company (The) $JOE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in St. Joe Company (The) (NYSE:JOE) by 11.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,361 shares of the financial services provider’s stock after selling 9,192 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in St. Joe were worth $4,469,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of St. Joe in the second quarter valued at approximately $385,050,000. Nitor Capital Management LLC purchased a new position in shares of St. Joe during the 4th quarter valued at approximately $31,789,000. Punch & Associates Investment Management Inc. purchased a new position in shares of St. Joe during the 2nd quarter valued at approximately $23,603,000. Berkley W R Corp acquired a new stake in St. Joe in the 2nd quarter valued at $13,124,000. Finally, Bank of America Corp DE acquired a new stake in St. Joe in the 2nd quarter valued at $11,797,000. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of St. Joe from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Insider Transactions at St. Joe

In other news, major shareholder Bruce Berkowitz sold 140,400 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $65.71, for a total transaction of $9,225,684.00. Following the completion of the sale, the insider owned 15,073,624 shares of the company’s stock, valued at $990,487,833.04. This represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 325,100 shares of company stock worth $21,303,513. Insiders own 0.35% of the company’s stock.

St. Joe Price Performance

NYSE:JOE opened at $63.89 on Thursday. St. Joe Company has a 12 month low of $46.37 and a 12 month high of $73.54. The stock has a 50 day moving average of $64.55 and a two-hundred day moving average of $65.71. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.71. The firm has a market cap of $3.64 billion, a P/E ratio of 29.86 and a beta of 1.29.

St. Joe (NYSE:JOE) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.71 earnings per share for the quarter. The business had revenue of $158.86 million for the quarter. St. Joe had a return on equity of 15.90% and a net margin of 22.45%.

St. Joe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be issued a $0.16 dividend. The ex-dividend date is Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. St. Joe’s dividend payout ratio (DPR) is presently 29.91%.

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.