The Manufacturers Life Insurance Company Has $1.25 Million Stock Holdings in The St. Joe Company (NYSE:JOE)

The Manufacturers Life Insurance Company cut its holdings in shares of The St. Joe Company (NYSE:JOE) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,490 shares of the financial services provider’s stock after selling 217 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in St. Joe were worth $1,253,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in St. Joe by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,525,941 shares of the financial services provider’s stock valued at $83,467,000 after acquiring an additional 5,144 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of St. Joe by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 357,655 shares of the financial services provider’s stock worth $20,855,000 after purchasing an additional 22,187 shares during the last quarter. Bank of New York Mellon Corp increased its position in St. Joe by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 351,319 shares of the financial services provider’s stock valued at $19,217,000 after acquiring an additional 11,113 shares in the last quarter. Algert Global LLC increased its holdings in shares of St. Joe by 9.4% in the second quarter. Algert Global LLC now owns 134,851 shares of the financial services provider’s stock valued at $7,376,000 after purchasing an additional 11,592 shares in the last quarter. Finally, Old West Investment Management LLC raised its position in shares of St. Joe by 68.6% during 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 during the last quarter. 86.67% of the stock is owned by institutional investors.

St. Joe Stock Performance

St. Joe stock opened at $47.47 on Thursday. The company’s 50-day moving average is $53.14 and its two-hundred day moving average is $55.95. The St. Joe Company has a 1 year low of $46.84 and a 1 year high of $64.69. The company has a market cap of $2.77 billion, a PE ratio of 40.23 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.85.

St. Joe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders 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 yield of 1.18%. The ex-dividend date of this dividend was Thursday, November 7th. St. Joe’s dividend payout ratio (DPR) is currently 47.46%.

Insider Transactions at St. Joe

In related news, CEO Jorge Luis Gonzalez bought 1,695 shares of St. Joe stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost of $53.05 per share, with a total value of $89,919.75. Following the purchase, the chief executive officer now owns 60,093 shares in the company, valued at approximately $3,187,933.65. This trade represents a 2.90 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bruce R. Berkowitz sold 343,400 shares of St. Joe stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $53.45, for a total value of $18,354,730.00. Following the completion of the sale, the insider now directly owns 17,396,624 shares in the company, valued at $929,849,552.80. This represents a 1.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 449,400 shares of company stock worth $23,953,600. 38.80% of the stock is currently owned by company insiders.

St. Joe 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.