The St. Joe Company (NYSE:JOE) Major Shareholder Sells $7,534,100.00 in Stock

The St. Joe Company (NYSE:JOE) major shareholder Bruce R. Berkowitz sold 160,300 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $47.00, for a total transaction of $7,534,100.00. Following the completion of the transaction, the insider now owns 17,000,724 shares in the company, valued at approximately $799,034,028. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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

NYSE:JOE opened at $45.91 on Friday. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 38.91 and a beta of 1.30. 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 company’s 50-day moving average is $47.15 and its two-hundred day moving average is $50.65. The St. Joe Company has a 12-month low of $42.94 and a 12-month high of $64.69.

St. Joe (NYSE:JOE) last announced its quarterly earnings data on Wednesday, February 26th. The financial services provider reported $0.32 earnings per share 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 business also recently disclosed 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 annualized dividend and a dividend yield of 1.22%. St. Joe’s payout ratio is currently 44.09%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of JOE. Old West Investment Management LLC lifted its holdings in shares of St. Joe by 68.6% during the 3rd quarter. Old West Investment Management LLC now owns 127,374 shares of the financial services provider’s stock worth $7,427,000 after acquiring an additional 51,830 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of St. Joe by 66.8% during the 3rd quarter. Victory Capital Management Inc. now owns 45,318 shares of the financial services provider’s stock worth $2,642,000 after acquiring an additional 18,150 shares during the period. KBC Group NV raised its holdings in St. Joe by 35.8% in the third quarter. KBC Group NV now owns 1,483 shares of the financial services provider’s stock valued at $86,000 after buying an additional 391 shares during the period. Thrivent Financial for Lutherans lifted its position in 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 buying an additional 236 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in 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 buying an additional 2,597 shares in the last quarter. 86.67% of the stock is currently owned by hedge funds and other 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.