Bruce R. Berkowitz Sells 80,000 Shares of The St. Joe Company (NYSE:JOE) Stock

The St. Joe Company (NYSE:JOE) major shareholder Bruce R. Berkowitz sold 80,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $53.14, for a total transaction of $4,251,200.00. Following the completion of the sale, the insider now directly owns 17,797,824 shares in the company, valued at approximately $945,776,367.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

St. Joe Stock Performance

NYSE JOE opened at $51.69 on Friday. The stock has a market cap of $3.02 billion, a P/E ratio of 43.81 and a beta of 1.26. The company’s 50-day simple moving average is $58.06 and its 200 day simple moving average is $57.37. The St. Joe Company has a twelve month low of $45.99 and a twelve month high of $64.69. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.85.

St. Joe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 7th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a yield of 1.08%. St. Joe’s payout ratio is currently 47.46%.

Institutional Trading of St. Joe

Large investors have recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd bought a new stake in St. Joe during the first quarter worth about $558,000. Vanguard Group Inc. grew its stake in St. Joe by 1.0% during the first quarter. Vanguard Group Inc. now owns 5,765,278 shares of the financial services provider’s stock worth $334,213,000 after buying an additional 59,563 shares during the last quarter. Algert Global LLC grew its stake in St. Joe by 9.4% during the second quarter. Algert Global LLC now owns 134,851 shares of the financial services provider’s stock worth $7,376,000 after buying an additional 11,592 shares during the last quarter. Old West Investment Management LLC grew its stake in St. Joe by 14.1% during the second quarter. Old West Investment Management LLC now owns 75,544 shares of the financial services provider’s stock worth $4,132,000 after buying an additional 9,362 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in St. Joe by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 21,707 shares of the financial services provider’s stock worth $1,187,000 after buying an additional 1,375 shares during the last quarter. 86.67% of the stock is owned by 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.