St. Joe (NYSE:JOE) Reaches New 52-Week Low - Here's Why

The St. Joe Company (NYSE:JOE - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $42.94 and last traded at $43.67, with a volume of 40339 shares trading hands. The stock had previously closed at $44.01.

St. Joe Stock Performance

The stock's 50-day moving average price is $48.25 and its 200 day moving average price is $54.52. The firm has a market cap of $2.55 billion, a P/E ratio of 36.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.34 and a quick ratio of 1.34.

St. Joe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 7th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, November 7th. St. Joe's payout ratio is presently 47.46%.

Insider Activity

In related news, CEO Jorge Luis Gonzalez bought 1,695 shares of the firm's stock in a transaction on Friday, October 25th. The shares were purchased at an average price of $53.05 per share, with a total value of $89,919.75. Following the completion of the purchase, the chief executive officer now owns 60,093 shares in the company, valued at $3,187,933.65. This represents a 2.90 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Bruce R. Berkowitz sold 80,000 shares of the company's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $53.14, for a total value of $4,251,200.00. Following the completion of the transaction, the insider now directly owns 17,797,824 shares of the company's stock, valued at $945,776,367.36. This represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 449,400 shares of company stock valued at $23,953,600. 38.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On St. Joe

Several institutional investors and hedge funds have recently made changes to their positions in JOE. JPMorgan Chase & Co. lifted its position in St. Joe by 30.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 152,565 shares of the financial services provider's stock valued at $8,896,000 after acquiring an additional 35,600 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of St. Joe during the third quarter valued at approximately $245,000. Arete Wealth Advisors LLC grew its holdings in St. Joe by 8.0% during the third quarter. Arete Wealth Advisors LLC now owns 4,804 shares of the financial services provider's stock worth $279,000 after buying an additional 356 shares in the last quarter. Geode Capital Management LLC raised its position 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 buying an additional 23,973 shares during the last quarter. Finally, Barclays PLC lifted its stake in St. Joe by 404.5% during the 3rd quarter. Barclays PLC now owns 64,990 shares of the financial services provider's stock valued at $3,790,000 after acquiring an additional 52,107 shares in the last quarter. Institutional investors own 86.67% of the company's stock.

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.