The St. Joe Company (NYSE:JOE) Major Shareholder Bruce R. Berkowitz Sells 343,400 Shares

The St. Joe Company (NYSE:JOE) major shareholder Bruce R. Berkowitz sold 343,400 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $53.45, for a total value of $18,354,730.00. Following the sale, the insider now owns 17,396,624 shares in the company, valued at $929,849,552.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

St. Joe Price Performance

Shares of St. Joe stock opened at $53.46 on Thursday. The St. Joe Company has a twelve month low of $47.83 and a twelve month high of $64.69. The stock has a market capitalization of $3.12 billion, a P/E ratio of 45.30 and a beta of 1.27. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.85. The business’s fifty day moving average price is $57.30 and its 200 day moving average price is $57.25.

St. Joe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 7th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, November 7th. St. Joe’s dividend payout ratio (DPR) is presently 47.46%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of St. Joe by 1.0% during the first quarter. Vanguard Group Inc. now owns 5,765,278 shares of the financial services provider’s stock worth $334,213,000 after acquiring an additional 59,563 shares during the last quarter. Raymond James & Associates grew its stake in St. Joe by 169.6% in the second quarter. Raymond James & Associates now owns 89,286 shares of the financial services provider’s stock worth $4,884,000 after purchasing an additional 56,171 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 during the period. Los Angeles Capital Management LLC acquired a new position in St. Joe in the third quarter valued at approximately $1,237,000. Finally, Susquehanna Fundamental Investments LLC boosted its stake in St. Joe by 377.3% in the second quarter. Susquehanna Fundamental Investments LLC now owns 24,701 shares of the financial services provider’s stock valued at $1,351,000 after acquiring an additional 19,526 shares during the period. 86.67% of the stock is owned by hedge funds and other 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.