Edgestream Partners L.P. Sells 8,350 Shares of The St. Joe Company (NYSE:JOE)

Edgestream Partners L.P. cut its position in shares of The St. Joe Company (NYSE:JOE) by 31.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,947 shares of the financial services provider’s stock after selling 8,350 shares during the quarter. Edgestream Partners L.P.’s holdings in St. Joe were worth $982,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Arizona State Retirement System increased its holdings in St. Joe by 1.9% in the second quarter. Arizona State Retirement System now owns 9,805 shares of the financial services provider’s stock worth $536,000 after purchasing an additional 180 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of St. Joe by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 31,348 shares of the financial services provider’s stock valued at $1,715,000 after acquiring an additional 185 shares during the period. Lumbard & Kellner LLC boosted its stake in St. Joe by 2.0% during the fourth quarter. Lumbard & Kellner LLC now owns 10,161 shares of the financial services provider’s stock worth $611,000 after acquiring an additional 200 shares in the last quarter. Rhumbline Advisers boosted its stake in St. Joe by 0.3% during the second quarter. Rhumbline Advisers now owns 101,188 shares of the financial services provider’s stock worth $5,535,000 after acquiring an additional 288 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in St. Joe by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the financial services provider’s stock worth $979,000 after purchasing an additional 300 shares during the period. Institutional investors own 86.67% of the company’s stock.

Insider Buying and Selling at St. Joe

In other news, Director Bruce R. Berkowitz sold 28,100 shares of St. Joe stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $62.98, for a total transaction of $1,769,738.00. Following the completion of the transaction, the director now directly owns 18,172,524 shares in the company, valued at $1,144,505,561.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Bruce R. Berkowitz sold 28,100 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $62.98, for a total value of $1,769,738.00. Following the sale, the director now owns 18,172,524 shares in the company, valued at approximately $1,144,505,561.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Berkowitz sold 54,000 shares of St. Joe stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $63.76, for a total value of $3,443,040.00. Following the transaction, the director now owns 18,200,624 shares of the company’s stock, valued at approximately $1,160,471,786.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 285,000 shares of company stock worth $17,558,573. 38.80% of the stock is owned by corporate insiders.

St. Joe Price Performance

Shares of NYSE JOE opened at $60.30 on Friday. The firm has a market capitalization of $3.52 billion, a P/E ratio of 43.07 and a beta of 1.26. The firm’s 50-day moving average price is $59.29 and its 200-day moving average price is $56.98. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.87. The St. Joe Company has a 1-year low of $45.93 and a 1-year high of $64.69.

St. Joe (NYSE:JOE) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter. The business had revenue of $111.60 million for the quarter. St. Joe had a return on equity of 10.07% and a net margin of 18.32%.

St. Joe Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 9th were given a $0.14 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.56 annualized dividend and a yield of 0.93%. This is an increase from St. Joe’s previous quarterly dividend of $0.12. St. Joe’s dividend payout ratio (DPR) is presently 40.00%.

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.