River Road Asset Management LLC Trims Holdings in The St. Joe Company (NYSE:JOE)

River Road Asset Management LLC lessened its stake in shares of The St. Joe Company (NYSE:JOE) by 4.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 101,675 shares of the financial services provider’s stock after selling 4,439 shares during the quarter. River Road Asset Management LLC’s holdings in St. Joe were worth $4,568,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of JOE. State Street Corp boosted its position in shares of St. Joe by 5.7% in the third quarter. State Street Corp now owns 1,396,046 shares of the financial services provider’s stock valued at $81,403,000 after acquiring an additional 75,374 shares during the period. Geode Capital Management LLC boosted its holdings in St. Joe by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 898,637 shares of the financial services provider’s stock valued at $52,409,000 after purchasing an additional 23,973 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of St. Joe by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 364,559 shares of the financial services provider’s stock valued at $16,380,000 after purchasing an additional 6,904 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of St. Joe by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 347,929 shares of the financial services provider’s stock worth $15,632,000 after purchasing an additional 16,514 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of St. Joe by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 185,066 shares of the financial services provider’s stock worth $8,315,000 after purchasing an additional 5,411 shares during the period. 86.67% of the stock is currently owned by institutional investors.

St. Joe Price Performance

NYSE:JOE opened at $44.33 on Wednesday. The St. Joe Company has a 52-week low of $42.94 and a 52-week high of $64.69. The stock has a fifty day moving average of $46.92 and a 200 day moving average of $51.29. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 37.57 and a beta of 1.30.

St. Joe (NYSE:JOE) last issued its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter. The firm had revenue of $104.30 million during the quarter. St. Joe had a return on equity of 9.58% and a net margin of 17.76%.

St. Joe Dividend Announcement

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

Insider Activity

In related news, major shareholder Bruce R. Berkowitz sold 95,700 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $47.11, for a total value of $4,508,427.00. Following the completion of the transaction, the insider now directly owns 17,162,524 shares in the company, valued at approximately $808,526,505.64. The trade was a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 38.80% of the company’s stock.

St. Joe Company Profile

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.