Bank of New York Mellon Corp Grows Stock Position in The St. Joe Company (NYSE:JOE)

Bank of New York Mellon Corp lifted its stake in The St. Joe Company (NYSE:JOE) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 347,929 shares of the financial services provider’s stock after buying an additional 16,514 shares during the period. Bank of New York Mellon Corp owned approximately 0.60% of St. Joe worth $15,632,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of St. Joe by 30.4% in the third quarter. JPMorgan Chase & Co. now owns 152,565 shares of the financial services provider’s stock worth $8,896,000 after buying an additional 35,600 shares during the period. Los Angeles Capital Management LLC purchased a new position in St. Joe during the 3rd quarter valued at about $1,237,000. Citigroup Inc. increased its holdings in St. Joe by 130.5% during the 3rd quarter. Citigroup Inc. now owns 67,539 shares of the financial services provider’s stock valued at $3,938,000 after purchasing an additional 38,243 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in 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 valued at $20,855,000 after purchasing an additional 22,187 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in St. Joe by 66.8% during the 3rd quarter. Victory Capital Management Inc. now owns 45,318 shares of the financial services provider’s stock valued at $2,642,000 after purchasing an additional 18,150 shares during the period. Hedge funds and other institutional investors own 86.67% of the company’s stock.

St. Joe Stock Down 3.2 %

Shares of NYSE:JOE opened at $44.33 on Wednesday. The St. Joe Company has a 1 year low of $42.94 and a 1 year high of $64.69. The company has a market cap of $2.59 billion, a PE ratio of 37.57 and a beta of 1.30. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.34 and a quick ratio of 1.34. The stock’s 50-day moving average is $46.92 and its 200 day moving average is $51.29.

St. Joe (NYSE:JOE) last announced its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.32 earnings per share (EPS) 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 $104.30 million for the quarter.

St. Joe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Monday, March 10th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, March 10th. This represents a $0.56 dividend on an annualized basis and a yield of 1.26%. St. Joe’s dividend payout ratio is presently 44.09%.

Insider Activity at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 41,100 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $47.06, for a total value of $1,934,166.00. Following the sale, the insider now directly owns 17,310,124 shares of the company’s stock, valued at $814,614,435.44. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 38.80% of the stock is owned by company insiders.

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.