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

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

St. Joe Stock Up 0.4 %

NYSE:JOE opened at $47.20 on Friday. 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 St. Joe Company has a twelve month low of $42.94 and a twelve month high of $64.69. The stock’s 50 day moving average price is $46.91 and its two-hundred day moving average price is $51.55. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.85.

St. Joe (NYSE:JOE) last posted its quarterly earnings results 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 for the quarter. St. Joe had a return on equity of 9.58% and a net margin of 17.76%.

St. Joe Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of St. Joe by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 6,197,402 shares of the financial services provider’s stock worth $278,449,000 after acquiring an additional 252,906 shares during the period. State Street Corp boosted its stake in shares of St. Joe by 5.7% during the 3rd quarter. State Street Corp now owns 1,396,046 shares of the financial services provider’s stock worth $81,403,000 after acquiring an additional 75,374 shares during the period. Geode Capital Management LLC boosted its stake in shares of St. Joe by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 906,668 shares of the financial services provider’s stock worth $40,746,000 after acquiring an additional 8,031 shares during the period. Horizon Kinetics Asset Management LLC boosted its stake in shares of St. Joe by 7.7% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 564,202 shares of the financial services provider’s stock worth $25,350,000 after acquiring an additional 40,354 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of St. Joe by 7.4% during the 4th quarter. Northern Trust Corp now owns 434,283 shares of the financial services provider’s stock worth $19,512,000 after acquiring an additional 29,918 shares during the period. 86.67% of the stock is currently owned by 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.