Bruce R. Berkowitz Sells 41,100 Shares of The St. Joe Company (NYSE:JOE) Stock

The St. Joe Company (NYSE:JOE) major shareholder Bruce R. Berkowitz sold 41,100 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $47.06, for a total transaction of $1,934,166.00. Following the sale, the insider now owns 17,310,124 shares of the company’s stock, valued at approximately $814,614,435.44. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

St. Joe Stock Performance

Shares of NYSE:JOE traded up $0.20 during trading on Friday, reaching $47.20. 295,507 shares of the company’s stock traded hands, compared to its average volume of 235,341. The stock has a market capitalization of $2.75 billion, a P/E ratio of 40.00 and a beta of 1.28. The St. Joe Company has a 12 month low of $42.94 and a 12 month high of $64.69. The company has a 50 day moving average of $46.86 and a 200-day moving average of $51.67. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.34 and a quick ratio of 1.34.

St. Joe (NYSE:JOE) last announced its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.32 earnings per share for the quarter. St. Joe had a return on equity of 9.58% and a net margin of 17.76%. The business had revenue of $104.30 million for the quarter.

St. Joe Announces Dividend

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

Institutional Investors Weigh In On St. Joe

Several hedge funds have recently modified their holdings of the stock. US Bancorp DE increased its holdings in shares of St. Joe by 163.6% in the 3rd quarter. US Bancorp DE now owns 1,128 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 700 shares during the period. Amalgamated Bank raised its holdings in shares of St. Joe by 2.3% during the third quarter. Amalgamated Bank now owns 11,090 shares of the financial services provider’s stock worth $647,000 after acquiring an additional 246 shares in the last quarter. Old West Investment Management LLC grew its stake in St. Joe by 68.6% in 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 purchasing an additional 51,830 shares in the last quarter. Carmel Capital Partners LLC raised its stake in shares of St. Joe by 6.3% during the 3rd quarter. Carmel Capital Partners LLC now owns 8,141 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 480 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of St. Joe during the 3rd quarter valued at about $1,237,000. 86.67% of the stock is owned by hedge funds and other institutional investors.

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.