Los Angeles Capital Management LLC Invests $1.24 Million in The St. Joe Company (NYSE:JOE)

Los Angeles Capital Management LLC acquired a new stake in shares of The St. Joe Company (NYSE:JOE) during the third quarter, Holdings Channel.com reports. The fund acquired 21,216 shares of the financial services provider’s stock, valued at approximately $1,237,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of St. Joe by 1.0% in the first quarter. Vanguard Group Inc. now owns 5,765,278 shares of the financial services provider’s stock worth $334,213,000 after acquiring an additional 59,563 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 worth $83,467,000 after purchasing an additional 5,144 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of St. Joe by 3.3% during the 2nd 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 in the last quarter. Algert Global LLC lifted its holdings in shares of St. Joe by 9.4% during the 2nd quarter. Algert Global LLC now owns 134,851 shares of the financial services provider’s stock valued at $7,376,000 after buying an additional 11,592 shares during the last quarter. Finally, Old West Investment Management LLC grew its stake in shares of St. Joe by 68.6% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

Insider Buying and Selling

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 343,400 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $53.45, for a total transaction of $18,354,730.00. Following the completion of the sale, the insider now owns 17,396,624 shares of the company’s stock, valued at $929,849,552.80. This represents a 1.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jorge Luis Gonzalez purchased 1,695 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was purchased at an average cost of $53.05 per share, for a total transaction of $89,919.75. Following the transaction, the chief executive officer now owns 60,093 shares of the company’s stock, valued at approximately $3,187,933.65. This trade represents a 2.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 600,700 shares of company stock worth $33,085,747. Corporate insiders own 38.80% of the company’s stock.

St. Joe Price Performance

Shares of JOE opened at $50.06 on Friday. 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 firm has a market cap of $2.92 billion, a PE ratio of 42.42 and a beta of 1.27. The firm’s 50 day moving average price is $56.52 and its 200 day moving average price is $57.02. The St. Joe Company has a twelve month low of $49.89 and a twelve month high of $64.69.

St. Joe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 7th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Thursday, November 7th. St. Joe’s payout ratio is presently 47.46%.

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.