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

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 shares were sold at an average price of $47.00, for a total value of $7,534,100.00. Following the sale, the insider now owns 17,000,724 shares of the company’s stock, valued at approximately $799,034,028. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

St. Joe Price Performance

Shares of NYSE:JOE traded down $0.07 during trading on Thursday, reaching $46.79. 274,807 shares of the company traded hands, compared to its average volume of 204,999. The company’s 50 day moving average is $47.10 and its two-hundred day moving average is $50.75. The firm has a market capitalization of $2.73 billion, a PE ratio of 39.66 and a beta of 1.30. 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 52 week low of $42.94 and a 52 week high of $64.69.

St. Joe (NYSE:JOE) last released its 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 during the quarter. St. Joe had a return on equity of 9.58% and a net margin of 17.76%.

St. Joe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.14 per share. 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 1.20%. St. Joe’s dividend payout ratio (DPR) is currently 44.09%.

Hedge Funds Weigh In On St. Joe

A number of institutional investors have recently modified their holdings of JOE. Vanguard Group Inc. raised its holdings 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 buying an additional 252,906 shares in the last quarter. Berkley W R Corp acquired a new position in shares of St. Joe during the 4th quarter worth $9,415,000. Millennium Management LLC raised its holdings in shares of St. Joe by 2,785.5% during the 4th quarter. Millennium Management LLC now owns 209,917 shares of the financial services provider’s stock worth $9,432,000 after buying an additional 202,642 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in shares of St. Joe by 373.3% during the 4th quarter. Voloridge Investment Management LLC now owns 149,650 shares of the financial services provider’s stock worth $6,724,000 after buying an additional 118,029 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of St. Joe during the 4th quarter worth $4,981,000. Institutional investors and hedge funds 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.