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

The St. Joe Company (NYSE:JOE - Get Free Report) major shareholder Bruce R. Berkowitz sold 160,300 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $47.00, for a total value of $7,534,100.00. Following the completion of the sale, the insider now owns 17,000,724 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

St. Joe Stock Up 2.1 %

Shares of JOE traded up $0.94 during mid-day trading on Monday, hitting $46.90. 251,926 shares of the company traded hands, compared to its average volume of 206,130. The business has a 50 day moving average of $47.17 and a 200 day moving average of $50.49. The company has a market capitalization of $2.74 billion, a PE ratio of 39.75 and a beta of 1.30. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.85. The St. Joe Company has a 1-year low of $42.94 and a 1-year high of $64.69.

St. Joe (NYSE:JOE - Get Free Report) last issued 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 business had revenue of $104.30 million for the quarter.

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St. Joe Dividend Announcement

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

Institutional Trading of St. Joe

Several large investors have recently added to or reduced their stakes in JOE. Old West Investment Management LLC lifted its holdings in shares of St. Joe by 68.6% during the third quarter. Old West Investment Management LLC now owns 127,374 shares of the financial services provider's stock worth $7,427,000 after purchasing an additional 51,830 shares during the period. Victory Capital Management Inc. raised its position in 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 buying an additional 18,150 shares during the last quarter. KBC Group NV lifted its stake 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 acquiring an additional 391 shares during the period. Thrivent Financial for Lutherans lifted its stake in St. Joe by 0.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 29,808 shares of the financial services provider's stock valued at $1,738,000 after acquiring an additional 236 shares during the period. Finally, Intech Investment Management LLC increased its stake in shares of St. Joe by 55.3% in the third quarter. Intech Investment Management LLC now owns 7,295 shares of the financial services provider's stock worth $425,000 after acquiring an additional 2,597 shares during the period. Hedge funds and other institutional investors own 86.67% of the company's stock.

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.