Principal Financial Group Inc. Cuts Position in The St. Joe Company (NYSE:JOE)

Principal Financial Group Inc. decreased its holdings in The St. Joe Company (NYSE:JOE) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 179,655 shares of the financial services provider’s stock after selling 9,579 shares during the quarter. Principal Financial Group Inc. owned about 0.31% of St. Joe worth $10,476,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Old West Investment Management LLC raised its position in St. Joe by 68.6% in the third quarter. Old West Investment Management LLC now owns 127,374 shares of the financial services provider’s stock worth $7,427,000 after acquiring an additional 51,830 shares in the last quarter. Amalgamated Bank increased its position in shares of St. Joe by 2.3% in the third quarter. Amalgamated Bank now owns 11,090 shares of the financial services provider’s stock valued at $647,000 after buying an additional 246 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in shares of St. Joe by 3.9% in the third quarter. Chicago Partners Investment Group LLC now owns 11,061 shares of the financial services provider’s stock valued at $628,000 after buying an additional 414 shares in the last quarter. US Bancorp DE increased its position in shares of St. Joe by 163.6% in the third quarter. US Bancorp DE now owns 1,128 shares of the financial services provider’s stock valued at $66,000 after buying an additional 700 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of St. Joe by 3.5% in the third quarter. State of Alaska Department of Revenue now owns 21,643 shares of the financial services provider’s stock valued at $1,262,000 after buying an additional 728 shares in the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Insider Activity

In related news, CEO Jorge Luis Gonzalez acquired 1,695 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average price of $53.05 per share, for a total transaction of $89,919.75. Following the transaction, the chief executive officer now owns 60,093 shares in the company, valued at $3,187,933.65. This trade represents a 2.90 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Berkowitz sold 54,100 shares of St. Joe stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $60.39, for a total value of $3,267,099.00. Following the sale, the director now owns 17,976,124 shares of the company’s stock, valued at approximately $1,085,578,128.36. This represents a 0.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 600,700 shares of company stock worth $33,085,747 over the last 90 days. 38.80% of the stock is currently owned by corporate insiders.

St. Joe Trading Down 0.2 %

Shares of JOE stock opened at $49.96 on Monday. 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 $2.92 billion, a P/E ratio of 42.34 and a beta of 1.27. The business has a fifty day simple moving average of $56.38 and a 200-day simple moving average of $56.95. 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 will be paid on Friday, December 6th. Stockholders of record on Thursday, November 7th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, November 7th. St. Joe’s dividend payout ratio is currently 47.46%.

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.