Insider Selling: The St. Joe Company (NYSE:JOE) Major Shareholder Sells 80,000 Shares of Stock

by · The Markets Daily

The St. Joe Company (NYSE:JOE – Get Free Report) major shareholder Bruce R. Berkowitz sold 80,000 shares of the business’s stock in a transaction on 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 owns 17,797,824 shares in the company, valued at $945,776,367.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 NYSE:JOE traded down $0.11 on Wednesday, hitting $52.08. The stock had a trading volume of 150,164 shares, compared to its average volume of 177,188. The firm’s 50 day moving average price is $58.06 and its 200-day moving average price is $57.37. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 44.14 and a beta of 1.26. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.34 and a current ratio of 1.34. The St. Joe Company has a twelve month low of $45.99 and a twelve month high of $64.69.

St. Joe Announces Dividend

The business 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 dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, November 7th. St. Joe’s dividend payout ratio is currently 47.46%.

Institutional Investors Weigh In On St. Joe

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of St. Joe by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 5,765,278 shares of the financial services provider’s stock worth $334,213,000 after purchasing an additional 59,563 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of St. Joe by 0.3% in the 2nd 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 position in shares of St. Joe by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 351,319 shares of the financial services provider’s stock valued at $19,217,000 after acquiring an additional 11,113 shares during the period. Algert Global LLC boosted its stake in St. Joe by 9.4% during the 2nd quarter. Algert Global LLC now owns 134,851 shares of the financial services provider’s stock worth $7,376,000 after acquiring an additional 11,592 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in St. Joe by 0.3% in the second quarter. Rhumbline Advisers now owns 101,188 shares of the financial services provider’s stock worth $5,535,000 after purchasing an additional 288 shares during the period. Institutional investors own 86.67% of the company’s stock.

About St. Joe

(Get Free Report)

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.

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