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

The St. Joe Company (NYSE:JOE) major shareholder Bruce R. Berkowitz sold 160,300 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $47.00, for a total transaction of $7,534,100.00. Following the transaction, the insider now directly owns 17,000,724 shares in the company, valued at approximately $799,034,028. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Down 0.1 %

Shares of NYSE JOE opened at $46.79 on Friday. The firm has a market cap of $2.73 billion, a PE ratio of 39.66 and a beta of 1.30. The St. Joe Company has a 12-month low of $42.94 and a 12-month high of $64.69. The company’s fifty day simple moving average is $47.10 and its 200 day simple moving average is $50.75. 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 issued its earnings results on Wednesday, February 26th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter. The business had revenue of $104.30 million for the quarter. St. Joe had a net margin of 17.76% and a return on equity of 9.58%.

St. Joe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Monday, March 10th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Monday, March 10th. St. Joe’s dividend payout ratio (DPR) is 44.09%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in JOE. Old West Investment Management LLC lifted its stake in shares of 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 buying an additional 51,830 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of St. Joe by 66.8% during the third quarter. Victory Capital Management Inc. now owns 45,318 shares of the financial services provider’s stock valued at $2,642,000 after purchasing an additional 18,150 shares in the last quarter. KBC Group NV lifted its position in shares of St. Joe by 35.8% during the third quarter. KBC Group NV now owns 1,483 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 391 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of St. Joe by 0.8% during the third quarter. Thrivent Financial for Lutherans now owns 29,808 shares of the financial services provider’s stock valued at $1,738,000 after purchasing an additional 236 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of St. Joe by 55.3% during the third quarter. Intech Investment Management LLC now owns 7,295 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 2,597 shares in the last quarter. 86.67% of the stock is owned by institutional investors.

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.