The St. Joe Company (NYSE:JOE) Director Bruce R. Berkowitz Sells 57,000 Shares

The St. Joe Company (NYSE:JOE) Director Bruce R. Berkowitz sold 57,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $58.26, for a total transaction of $3,320,820.00. Following the completion of the transaction, the director now owns 19,167,624 shares in the company, valued at $1,116,705,774.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

St. Joe Price Performance

NYSE:JOE opened at $58.14 on Wednesday. The St. Joe Company has a 12 month low of $41.25 and a 12 month high of $65.99. The company’s 50-day moving average price is $55.81 and its two-hundred day moving average price is $54.81. The firm has a market cap of $3.40 billion, a PE ratio of 41.53 and a beta of 1.30. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.89.

St. Joe (NYSE:JOE) last announced its earnings results on Wednesday, February 21st. The financial services provider reported $0.23 earnings per share (EPS) for the quarter. St. Joe had a net margin of 20.10% and a return on equity of 11.69%. The company had revenue of $86.70 million for the quarter.

St. Joe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.83%. St. Joe’s payout ratio is 34.29%.

Hedge Funds Weigh In On St. Joe

A number of large investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new position in shares of St. Joe during the first quarter worth approximately $300,000. Illinois Municipal Retirement Fund lifted its position in shares of St. Joe by 3.5% during the first quarter. Illinois Municipal Retirement Fund now owns 21,101 shares of the financial services provider’s stock worth $1,223,000 after purchasing an additional 722 shares in the last quarter. Meixler Investment Management Ltd. lifted its holdings in St. Joe by 53.6% in the first quarter. Meixler Investment Management Ltd. now owns 19,040 shares of the financial services provider’s stock valued at $1,104,000 after buying an additional 6,647 shares during the period. Texas Permanent School Fund Corp lifted its holdings in St. Joe by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 31,163 shares of the financial services provider’s stock valued at $1,807,000 after buying an additional 417 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in St. Joe in the first quarter valued at approximately $2,097,000. 86.67% of the stock is currently owned by institutional investors and hedge funds.

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.