St. Joe Company (The) (NYSE:JOE) Major Shareholder Bruce R. Berkowitz Sells 44,000 Shares

Key Points

• Major shareholder Bruce R. Berkowitz of St. Joe Company sold 44,000 shares at an average price of $50.72, totaling approximately $2.23 million.
• The company declared a quarterly dividend of $0.14 per share, which will be paid to stockholders on September 19th, with an annualized yield of 1.1%.
• St. Joe’s stock has seen a 52-week low of $40.19 and a high of $62.49, with a current market capitalization of $2.94 billion.

St. Joe Company (The) (NYSE:JOE - Get Free Report) major shareholder Bruce R. Berkowitz sold 44,000 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $50.72, for a total value of $2,231,680.00. Following the completion of the sale, the insider directly owned 16,590,024 shares of the company's stock, valued at approximately $841,446,017.28. This trade represents a 0.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

St. Joe Price Performance

St. Joe stock traded down $0.93 during midday trading on Thursday, reaching $50.70. The company's stock had a trading volume of 216,783 shares, compared to its average volume of 232,622. St. Joe Company has a fifty-two week low of $40.19 and a fifty-two week high of $62.49. The firm has a market capitalization of $2.94 billion, a PE ratio of 35.70 and a beta of 1.37. The stock's 50 day simple moving average is $49.26 and its 200 day simple moving average is $46.65. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 1.45.

St. Joe (NYSE:JOE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.51 earnings per share for the quarter. St. Joe had a return on equity of 11.19% and a net margin of 19.39%. The business had revenue of $129.10 million during the quarter.

St. Joe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be given a $0.14 dividend. The ex-dividend date is Friday, August 22nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. St. Joe's dividend payout ratio (DPR) is currently 39.44%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded St. Joe from a "buy" rating to a "hold" rating in a report on Sunday, June 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. State Street Corp increased its position in shares of St. Joe by 0.7% in the second quarter. State Street Corp now owns 1,396,004 shares of the financial services provider's stock valued at $66,589,000 after buying an additional 9,301 shares in the last quarter. Geode Capital Management LLC increased its position in shares of St. Joe by 2.5% in the second quarter. Geode Capital Management LLC now owns 957,098 shares of the financial services provider's stock valued at $45,658,000 after buying an additional 23,320 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its position in shares of St. Joe by 1.0% in the second quarter. Horizon Kinetics Asset Management LLC now owns 555,891 shares of the financial services provider's stock valued at $26,516,000 after buying an additional 5,552 shares in the last quarter. Northern Trust Corp increased its position in St. Joe by 7.4% during the 4th quarter. Northern Trust Corp now owns 434,283 shares of the financial services provider's stock worth $19,512,000 after purchasing an additional 29,918 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in St. Joe by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 371,097 shares of the financial services provider's stock worth $17,423,000 after purchasing an additional 6,538 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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