Bruce R. Berkowitz Sells 41,100 Shares of The St. Joe Company (NYSE:JOE) Stock

The St. Joe Company (NYSE:JOE - Get Free Report) major shareholder Bruce R. Berkowitz sold 41,100 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $47.06, for a total value of $1,934,166.00. Following the completion of the transaction, the insider now directly owns 17,310,124 shares of the company's stock, valued at $814,614,435.44. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

St. Joe Price Performance

Shares of JOE stock traded up $0.20 during mid-day trading on Friday, reaching $47.20. The stock had a trading volume of 295,507 shares, compared to its average volume of 235,341. The St. Joe Company has a 12-month low of $42.94 and a 12-month high of $64.69. 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 has a 50-day simple moving average of $46.86 and a 200 day simple moving average of $51.67. The company has a market cap of $2.75 billion, a P/E ratio of 40.00 and a beta of 1.28.

St. Joe (NYSE:JOE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter. St. Joe had a net margin of 17.76% and a return on equity of 9.58%. The company had revenue of $104.30 million for the quarter.

St. Joe Dividend Announcement

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

Hedge Funds Weigh In On St. Joe

Several institutional investors and hedge funds have recently modified their holdings of JOE. Smartleaf Asset Management LLC boosted its stake in St. Joe by 277.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 585 shares of the financial services provider's stock worth $26,000 after buying an additional 430 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of St. Joe in the 3rd quarter valued at $35,000. Lazard Asset Management LLC purchased a new stake in shares of St. Joe in the fourth quarter worth about $38,000. US Bancorp DE grew its position in St. Joe by 163.6% in the third quarter. US Bancorp DE now owns 1,128 shares of the financial services provider's stock valued at $66,000 after acquiring an additional 700 shares in the last quarter. Finally, KBC Group NV grew its holdings in St. Joe by 35.8% during the 3rd 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. Hedge funds and other 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.

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