Bruce R. Berkowitz Sells 15,000 Shares of The St. Joe Company (NYSE:JOE) Stock

The St. Joe Company (NYSE:JOE) major shareholder Bruce R. Berkowitz sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $50.89, for a total transaction of $763,350.00. Following the completion of the sale, the insider now directly owns 17,770,024 shares of the company’s stock, valued at approximately $904,316,521.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

St. Joe Price Performance

JOE stock opened at $53.03 on Friday. The firm has a 50-day moving average of $57.20 and a 200 day moving average of $57.22. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market cap of $3.10 billion, a P/E ratio of 44.94 and a beta of 1.27. The St. Joe Company has a 1 year low of $47.83 and a 1 year high of $64.69.

St. Joe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 7th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.56 annualized dividend and a dividend yield of 1.06%. St. Joe’s dividend payout ratio is presently 47.46%.

Hedge Funds Weigh In On St. Joe

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its stake in shares of St. Joe by 0.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 29,808 shares of the financial services provider’s stock worth $1,738,000 after acquiring an additional 236 shares in the last quarter. KBC Group NV increased its stake in shares of St. Joe by 35.8% during the third quarter. KBC Group NV now owns 1,483 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 391 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of St. Joe by 66.8% during the third quarter. Victory Capital Management Inc. now owns 45,318 shares of the financial services provider’s stock valued at $2,642,000 after purchasing an additional 18,150 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of St. Joe in the 3rd quarter worth approximately $1,237,000. Finally, Carmel Capital Partners LLC grew its stake in shares of St. Joe by 6.3% in the 3rd quarter. Carmel Capital Partners LLC now owns 8,141 shares of the financial services provider’s stock worth $475,000 after buying an additional 480 shares during the last quarter. Hedge funds and other institutional investors 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.