Bruce R. Berkowitz Sells 160,300 Shares of The St. Joe Company (NYSE:JOE) Stock

The St. Joe Company (NYSE:JOE) major shareholder Bruce R. Berkowitz sold 160,300 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $47.00, for a total transaction of $7,534,100.00. Following the transaction, the insider now directly owns 17,000,724 shares in the company, valued at approximately $799,034,028. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

St. Joe Stock Performance

NYSE:JOE opened at $45.91 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.85. The St. Joe Company has a fifty-two week low of $42.94 and a fifty-two week high of $64.69. The stock has a market cap of $2.68 billion, a PE ratio of 38.91 and a beta of 1.30. The firm’s fifty day simple moving average is $47.15 and its 200-day simple moving average is $50.65.

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

St. Joe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 dividend on an annualized basis and a yield of 1.22%. St. Joe’s payout ratio is 44.09%.

Institutional Investors Weigh In On St. Joe

A number of large investors have recently added to or reduced their stakes in JOE. Vanguard Group Inc. grew its stake in St. Joe by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 6,197,402 shares of the financial services provider’s stock valued at $278,449,000 after acquiring an additional 252,906 shares during the last quarter. Berkley W R Corp acquired a new stake in St. Joe in the 4th quarter valued at about $9,415,000. Millennium Management LLC lifted its holdings in St. Joe by 2,785.5% in the 4th 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 lifted its holdings in St. Joe by 373.3% in the 4th 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 position in St. Joe in the 4th quarter valued at about $4,981,000. 86.67% of the stock is owned by institutional investors and hedge funds.

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.