Insider Selling: The St. Joe Company (NYSE:JOE) Major Shareholder Sells 343,400 Shares of Stock

The St. Joe Company (NYSE:JOE) major shareholder Bruce R. Berkowitz sold 343,400 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $53.45, for a total transaction of $18,354,730.00. Following the completion of the transaction, the insider now directly owns 17,396,624 shares in the company, valued at $929,849,552.80. This represents a 0.00 % 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 transactions with the SEC.

St. Joe Price Performance

Shares of St. Joe stock opened at $52.68 on Friday. The stock has a market capitalization of $3.08 billion, a P/E ratio of 44.64 and a beta of 1.27. The business has a 50 day simple moving average of $57.06 and a two-hundred day simple moving average of $57.20. The St. Joe Company has a 12 month low of $47.83 and a 12 month high of $64.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.34 and a quick ratio of 1.34.

St. Joe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 7th will be issued 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 1.06%. St. Joe’s payout ratio is currently 47.46%.

Institutional Investors Weigh In On St. Joe

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its stake in shares of St. Joe by 54.9% in the first quarter. Private Advisor Group LLC now owns 6,403 shares of the financial services provider’s stock worth $371,000 after buying an additional 2,269 shares in the last quarter. BNP Paribas Financial Markets grew its stake in St. Joe by 14.2% during the 1st quarter. BNP Paribas Financial Markets now owns 30,798 shares of the financial services provider’s stock valued at $1,785,000 after acquiring an additional 3,840 shares in the last quarter. Capstone Investment Advisors LLC raised its holdings in St. Joe by 23.4% in the 1st quarter. Capstone Investment Advisors LLC now owns 5,491 shares of the financial services provider’s stock valued at $318,000 after acquiring an additional 1,041 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in St. Joe by 1.4% in 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. Finally, Meixler Investment Management Ltd. boosted its holdings in shares of St. Joe by 53.6% during the 1st quarter. Meixler Investment Management Ltd. now owns 19,040 shares of the financial services provider’s stock worth $1,104,000 after purchasing an additional 6,647 shares during the last quarter. 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.