Bruce R. Berkowitz Sells 36,600 Shares of The St. Joe Company (NYSE:JOE) Stock

The St. Joe Company (NYSE:JOE) Director Bruce R. Berkowitz sold 36,600 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $58.96, for a total value of $2,157,936.00. Following the transaction, the director now owns 19,131,024 shares of the company’s stock, valued at $1,127,965,175.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

St. Joe Price Performance

St. Joe stock traded down $0.71 during midday trading on Tuesday, hitting $58.14. 504,068 shares of the company’s stock were exchanged, compared to its average volume of 185,029. The St. Joe Company has a 52-week low of $41.25 and a 52-week high of $65.99. The stock has a 50-day moving average price of $55.73 and a two-hundred day moving average price of $54.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market cap of $3.40 billion, a P/E ratio of 41.53 and a beta of 1.30.

St. Joe (NYSE:JOE) last posted its earnings results on Wednesday, February 21st. The financial services provider reported $0.23 EPS for the quarter. St. Joe had a return on equity of 11.69% and a net margin of 20.10%. The business had revenue of $86.70 million during the quarter.

St. Joe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Wednesday, May 15th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Tuesday, May 14th. St. Joe’s payout ratio is 34.29%.

Hedge Funds Weigh In On St. Joe

A number of hedge funds and other institutional investors have recently modified their holdings of JOE. Signaturefd LLC boosted its holdings in shares of St. Joe by 1,198.0% in the 3rd quarter. Signaturefd LLC now owns 662 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 611 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of St. Joe in the 4th quarter worth about $67,000. Selway Asset Management bought a new stake in shares of St. Joe in the 3rd quarter valued at about $71,000. Quest Partners LLC bought a new stake in shares of St. Joe in the 4th quarter valued at about $162,000. Finally, M&T Bank Corp bought a new stake in shares of St. Joe in the 4th quarter valued at about $203,000. 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.