The St. Joe Company (NYSE:JOE) Major Shareholder Bruce R. Berkowitz Sells 95,700 Shares

The St. Joe Company (NYSE:JOE) major shareholder Bruce R. Berkowitz sold 95,700 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $47.11, for a total transaction of $4,508,427.00. Following the completion of the sale, the insider now directly owns 17,162,524 shares in the company, valued at approximately $808,526,505.64. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

St. Joe Trading Up 0.4 %

Shares of JOE opened at $47.20 on Friday. The St. Joe Company has a 1-year low of $42.94 and a 1-year high of $64.69. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 40.00 and a beta of 1.30. The firm’s 50-day moving average price is $46.86 and its 200-day moving average price is $51.67. 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 (NYSE:JOE) last released its quarterly earnings data on Wednesday, February 26th. The financial services provider reported $0.32 earnings per share for the quarter. The firm had revenue of $104.30 million during the quarter. St. Joe had a net margin of 17.76% and a return on equity of 9.58%.

St. Joe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Monday, March 10th will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.19%. St. Joe’s payout ratio is currently 44.09%.

Hedge Funds Weigh In On St. Joe

Several hedge funds have recently modified their holdings of JOE. Vanguard Group Inc. raised its stake in St. Joe by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 6,197,402 shares of the financial services provider’s stock valued at $278,449,000 after purchasing an additional 252,906 shares in the last quarter. Berkley W R Corp purchased a new stake in St. Joe during the fourth quarter valued at $9,415,000. Millennium Management LLC raised its stake in St. Joe by 2,785.5% during the fourth quarter. Millennium Management LLC now owns 209,917 shares of the financial services provider’s stock valued at $9,432,000 after purchasing an additional 202,642 shares in the last quarter. Voloridge Investment Management LLC raised its stake in St. Joe by 373.3% during the fourth quarter. Voloridge Investment Management LLC now owns 149,650 shares of the financial services provider’s stock valued at $6,724,000 after purchasing an additional 118,029 shares in the last quarter. Finally, Norges Bank purchased a new stake in St. Joe during the fourth quarter valued at $4,981,000. Hedge funds and other institutional investors own 86.67% of the company’s stock.

St. Joe Company 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.