Bruce R. Berkowitz Sells 2,900 Shares of The St. Joe Company (NYSE:JOE) Stock

The St. Joe Company (NYSE:JOE) major shareholder Bruce R. Berkowitz sold 2,900 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $47.01, for a total value of $136,329.00. Following the sale, the insider now owns 16,940,624 shares of the company’s stock, valued at $796,378,734.24. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 Price Performance

JOE opened at $45.91 on Friday. The St. Joe Company has a 1 year low of $42.94 and a 1 year high of $64.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 38.91 and a beta of 1.30. The firm’s fifty day moving average price is $47.15 and its two-hundred day moving average price is $50.65.

St. Joe (NYSE:JOE) last issued 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 company had revenue of $104.30 million during the quarter.

St. Joe Dividend Announcement

The firm also recently announced 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. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Monday, March 10th. St. Joe’s payout ratio is 44.09%.

Hedge Funds Weigh In On St. Joe

Several institutional investors have recently added to or reduced their stakes in JOE. Vanguard Group Inc. boosted its stake in 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 during the last quarter. Berkley W R Corp purchased a new position in St. Joe in the fourth quarter valued at approximately $9,415,000. Millennium Management LLC grew its holdings in St. Joe by 2,785.5% during the fourth 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 during the period. Voloridge Investment Management LLC increased its position in St. Joe by 373.3% in the fourth 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 during the last quarter. Finally, Norges Bank bought a new stake in shares of St. Joe in the fourth quarter valued at $4,981,000. Institutional investors 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.