The St. Joe Company (NYSE:JOE) Major Shareholder Sells $1,934,166.00 in Stock

The St. Joe Company (NYSE:JOE) major shareholder Bruce R. Berkowitz sold 41,100 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 17,310,124 shares in the company, valued at $814,614,435.44. This represents 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 this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

St. Joe Stock Performance

Shares of JOE opened at $47.20 on Monday. The firm has a market capitalization of $2.75 billion, a P/E ratio of 40.00 and a beta of 1.30. The St. Joe Company has a 52 week low of $42.94 and a 52 week high of $64.69. The stock has a 50 day moving average price of $46.91 and a two-hundred day moving average price of $51.49. 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 released its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.32 EPS 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 during the quarter.

St. Joe Announces Dividend

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

Institutional Investors Weigh In On St. Joe

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of St. Joe by 4.3% in the fourth 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 in the last quarter. Berkley W R Corp bought a new stake in St. Joe during the fourth quarter worth $9,415,000. Millennium Management LLC boosted its position in St. Joe by 2,785.5% in the fourth quarter. Millennium Management LLC now owns 209,917 shares of the financial services provider’s stock worth $9,432,000 after purchasing an additional 202,642 shares during the last quarter. Voloridge Investment Management LLC grew its stake 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 during the period. Finally, Norges Bank purchased a new stake in shares of St. Joe during the 4th quarter valued at $4,981,000. Hedge funds and other institutional investors own 86.67% of the company’s stock.

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.