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

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 stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $50.72, for a total value of $2,231,680.00. Following the completion of the transaction, the insider directly owned 16,590,024 shares of the company's stock, valued at approximately $841,446,017.28. The trade was a 0.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

St. Joe Trading Up 1.1%

St. Joe stock traded up $0.54 during midday trading on Tuesday, hitting $50.13. 44,030 shares of the stock were exchanged, compared to its average volume of 250,915. The stock has a market capitalization of $2.90 billion, a PE ratio of 35.33 and a beta of 1.37. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.81. The company has a fifty day simple moving average of $49.42 and a two-hundred day simple moving average of $46.63. St. Joe Company has a 52 week low of $40.19 and a 52 week high of $62.49.

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

St. Joe Dividend Announcement

The firm also recently disclosed 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. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 22nd. St. Joe's payout ratio is currently 39.44%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in JOE. Janney Montgomery Scott LLC acquired a new position in shares of St. Joe in the first quarter valued at approximately $263,000. SG Americas Securities LLC acquired a new stake in St. Joe in the first quarter valued at approximately $475,000. Lazard Asset Management LLC acquired a new position in shares of St. Joe during the fourth quarter worth $38,000. Millennium Management LLC lifted its holdings in shares of St. Joe by 2,785.5% during the fourth quarter. Millennium Management LLC now owns 209,917 shares of the financial services provider's stock worth $9,432,000 after purchasing an additional 202,642 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in St. Joe by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,508 shares of the financial services provider's stock valued at $921,000 after buying an additional 782 shares during the period. Institutional investors and hedge funds 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.