Norges Bank Purchases New Shares in The St. Joe Company (NYSE:JOE)

Norges Bank purchased a new stake in The St. Joe Company (NYSE:JOE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 110,854 shares of the financial services provider's stock, valued at approximately $4,981,000. Norges Bank owned approximately 0.19% of St. Joe at the end of the most recent reporting period.

Several other large investors have also modified their holdings of JOE. Smartleaf Asset Management LLC lifted its stake in St. Joe by 277.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 585 shares of the financial services provider's stock valued at $26,000 after buying an additional 430 shares in the last quarter. Campbell Capital Management Inc. acquired a new position in shares of St. Joe in the fourth quarter worth $67,000. KBC Group NV raised its holdings in shares of St. Joe by 38.8% in the fourth quarter. KBC Group NV now owns 2,059 shares of the financial services provider's stock worth $93,000 after acquiring an additional 576 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of St. Joe in the third quarter valued at $237,000. Finally, Virtu Financial LLC acquired a new stake in shares of St. Joe during the third quarter valued at $245,000. 86.67% of the stock is currently owned by institutional investors and hedge funds.

St. Joe Price Performance

JOE stock traded up $0.24 during trading on Tuesday, hitting $42.95. The stock had a trading volume of 12,321 shares, compared to its average volume of 263,427. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 36.44 and a beta of 1.28. 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 company's 50 day moving average price is $45.92 and its two-hundred day moving average price is $48.82. The St. Joe Company has a 1-year low of $40.19 and a 1-year high of $64.69.

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St. Joe (NYSE:JOE - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $104.30 million for the quarter.

St. Joe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Monday, March 10th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Monday, March 10th. St. Joe's dividend payout ratio (DPR) is presently 44.09%.

Insiders Place Their Bets

In other news, major shareholder Bruce R. Berkowitz sold 95,700 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $47.11, for a total value of $4,508,427.00. Following the completion of the sale, the insider now owns 17,162,524 shares in the company, valued at approximately $808,526,505.64. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 300,000 shares of company stock worth $14,113,022 over the last three months. 38.80% of the stock is owned by 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.