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 firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $47.06, for a total transaction of $1,934,166.00. Following the transaction, the insider now directly owns 17,310,124 shares in the company, valued at approximately $814,614,435.44. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

St. Joe Stock Performance

Shares of NYSE:JOE opened at $47.20 on Friday. The firm has a market cap of $2.75 billion, a PE ratio of 40.00 and a beta of 1.30. The firm’s 50 day simple moving average is $46.91 and its 200-day simple moving average is $51.55. The St. Joe Company has a one year low of $42.94 and a one year high of $64.69. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.34 and a current ratio of 1.34.

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

St. Joe Dividend Announcement

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 dividend of $0.14 per share. The ex-dividend date is Monday, March 10th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.19%. St. Joe’s dividend payout ratio is presently 44.09%.

Hedge Funds Weigh In On St. Joe

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

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.