Bruce R. Berkowitz Sells 57,000 Shares of The St. Joe Company (NYSE:JOE) Stock

The St. Joe Company (NYSE:JOE) Director Bruce R. Berkowitz sold 57,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $58.26, for a total transaction of $3,320,820.00. Following the transaction, the director now owns 19,167,624 shares in the company, valued at $1,116,705,774.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

St. Joe Stock Performance

JOE opened at $57.55 on Thursday. The St. Joe Company has a 1-year low of $41.25 and a 1-year high of $65.99. The stock has a market cap of $3.36 billion, a P/E ratio of 41.11 and a beta of 1.30. The stock’s 50 day simple moving average is $55.90 and its 200 day simple moving average is $54.83. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.47 and a quick ratio of 1.47.

St. Joe (NYSE:JOE) last announced its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $0.23 earnings per share 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Wednesday, May 15th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, May 14th. St. Joe’s dividend payout ratio (DPR) is presently 34.29%.

Institutional Trading of St. Joe

Several large investors have recently modified their holdings of the business. ProShare Advisors LLC lifted its stake in St. Joe by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 6,970 shares of the financial services provider’s stock valued at $404,000 after buying an additional 475 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of St. Joe in the first quarter valued at $300,000. Illinois Municipal Retirement Fund lifted its position in shares of St. Joe by 3.5% in the first quarter. Illinois Municipal Retirement Fund now owns 21,101 shares of the financial services provider’s stock valued at $1,223,000 after acquiring an additional 722 shares in the last quarter. Meixler Investment Management Ltd. boosted its stake in shares of St. Joe by 53.6% during the first quarter. Meixler Investment Management Ltd. now owns 19,040 shares of the financial services provider’s stock valued at $1,104,000 after acquiring an additional 6,647 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its position in St. Joe by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 31,163 shares of the financial services provider’s stock worth $1,807,000 after purchasing an additional 417 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

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.