The St. Joe Company (NYSE:JOE) Major Shareholder Sells $18,354,730.00 in Stock

The St. Joe Company (NYSE:JOE) major shareholder Bruce R. Berkowitz sold 343,400 shares of the stock in a transaction that occurred on 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 sale, the insider now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

St. Joe Stock Up 2.3 %

Shares of NYSE:JOE traded up $1.23 during trading on Wednesday, hitting $53.46. 675,847 shares of the company’s stock traded hands, compared to its average volume of 179,755. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average price of $57.40 and a 200-day moving average price of $57.28. The St. Joe Company has a 52 week low of $47.83 and a 52 week high of $64.69. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 44.98 and a beta of 1.27.

St. Joe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 7th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, November 7th. St. Joe’s payout ratio is 47.46%.

Hedge Funds Weigh In On St. Joe

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in St. Joe by 1.0% during the 1st 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 in the last quarter. Dimensional Fund Advisors LP increased its position in shares of St. Joe by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,525,941 shares of the financial services provider’s stock valued at $83,467,000 after acquiring an additional 5,144 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in St. Joe by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 351,319 shares of the financial services provider’s stock worth $19,217,000 after acquiring an additional 11,113 shares in the last quarter. Algert Global LLC boosted its position 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 valued at $7,376,000 after purchasing an additional 11,592 shares during the last quarter. Finally, Old West Investment Management LLC increased its position in shares of St. Joe by 68.6% during the 3rd quarter. Old West Investment Management LLC now owns 127,374 shares of the financial services provider’s stock worth $7,427,000 after purchasing an additional 51,830 shares during the last quarter. 86.67% of the stock is owned by institutional investors.

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.