Citigroup Inc. Purchases 38,243 Shares of The St. Joe Company (NYSE:JOE)

Citigroup Inc. grew its position in The St. Joe Company (NYSE:JOE) by 130.5% during the third quarter, HoldingsChannel reports. The firm owned 67,539 shares of the financial services provider’s stock after buying an additional 38,243 shares during the period. Citigroup Inc.’s holdings in St. Joe were worth $3,938,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of JOE. International Assets Investment Management LLC acquired a new position in shares of St. Joe during the 3rd quarter valued at $680,000. Los Angeles Capital Management LLC purchased a new stake in shares of St. Joe in the third quarter valued at about $1,237,000. Algert Global LLC raised 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 during the last quarter. Old West Investment Management LLC raised its holdings in shares of St. Joe by 14.1% in the second quarter. Old West Investment Management LLC now owns 75,544 shares of the financial services provider’s stock valued at $4,132,000 after purchasing an additional 9,362 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of St. Joe by 66.8% in the third quarter. Victory Capital Management Inc. now owns 45,318 shares of the financial services provider’s stock valued at $2,642,000 after purchasing an additional 18,150 shares during the last quarter. 86.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jorge Luis Gonzalez purchased 1,695 shares of the 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 acquisition, 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Bruce R. Berkowitz sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $50.89, for a total transaction of $763,350.00. Following the completion of the sale, the insider now directly owns 17,770,024 shares in the company, valued at $904,316,521.36. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 449,400 shares of company stock worth $23,953,600 over the last quarter. 38.80% of the stock is currently owned by company insiders.

St. Joe Price Performance

JOE opened at $50.38 on Wednesday. The firm has a market cap of $2.94 billion, a P/E ratio of 42.71 and a beta of 1.25. The firm has a 50-day moving average of $54.55 and a 200 day moving average of $56.36. 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 St. Joe Company has a fifty-two week low of $49.36 and a fifty-two week high of $64.69.

St. Joe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a yield of 1.11%. St. Joe’s dividend 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.