Verition Fund Management LLC Invests $289,000 in The St. Joe Company (NYSE:JOE)

Verition Fund Management LLC purchased a new stake in shares of The St. Joe Company (NYSE:JOE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,949 shares of the financial services provider’s stock, valued at approximately $289,000.

Several other hedge funds and other institutional investors also recently modified their holdings of JOE. Dimensional Fund Advisors LP grew its holdings in shares of St. Joe by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,525,941 shares of the financial services provider’s stock worth $83,467,000 after acquiring an additional 5,144 shares during the period. Charles Schwab Investment Management Inc. boosted its position 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 valued at $20,855,000 after purchasing an additional 22,187 shares in the last quarter. Bank of New York Mellon Corp grew its stake in St. Joe by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 351,319 shares of the financial services provider’s stock worth $19,217,000 after purchasing an additional 11,113 shares during the period. Algert Global LLC raised its holdings in St. Joe by 9.4% in the second quarter. Algert Global LLC now owns 134,851 shares of the financial services provider’s stock worth $7,376,000 after purchasing an additional 11,592 shares in the last quarter. Finally, Old West Investment Management LLC lifted its position in 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 valued at $7,427,000 after buying an additional 51,830 shares during the period. Hedge funds and other institutional investors own 86.67% of the company’s stock.

St. Joe Stock Down 1.0 %

NYSE:JOE opened at $46.64 on Friday. 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 firm’s 50-day moving average price is $52.69 and its 200-day moving average price is $55.82. The company has a market capitalization of $2.72 billion, a PE ratio of 39.53 and a beta of 1.25. The St. Joe Company has a 1-year low of $46.30 and a 1-year high of $64.69.

St. Joe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, November 7th. St. Joe’s dividend payout ratio is 47.46%.

Insider Activity

In related news, CEO Jorge Luis Gonzalez bought 1,695 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were purchased at an average cost 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 approximately $3,187,933.65. The trade was a 2.90 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bruce R. Berkowitz sold 343,400 shares of St. Joe stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.45, for a total value of $18,354,730.00. Following the completion of the transaction, the insider now directly owns 17,396,624 shares of the company’s stock, valued at approximately $929,849,552.80. This represents a 1.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 449,400 shares of company stock worth $23,953,600. Insiders own 38.80% of the company’s stock.

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.