Insider Selling: The St. Joe Company (NYSE:JOE) Director Sells $3,213,648.00 in Stock

The St. Joe Company (NYSE:JOE) Director Bruce R. Berkowitz sold 51,600 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $62.28, for a total transaction of $3,213,648.00. Following the completion of the transaction, the director now owns 18,030,924 shares in the company, valued at approximately $1,122,965,946.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

St. Joe Stock Performance

NYSE:JOE opened at $59.07 on Monday. The stock has a market cap of $3.45 billion, a P/E ratio of 42.19 and a beta of 1.27. The firm’s fifty day simple moving average is $56.60 and its 200 day simple moving average is $56.17. The St. Joe Company has a twelve month low of $45.93 and a twelve month high of $64.69. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.87.

St. Joe (NYSE:JOE) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.42 earnings per share for the quarter. The business had revenue of $111.60 million for the quarter. St. Joe had a net margin of 18.32% and a return on equity of 10.07%.

St. Joe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 9th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.56 annualized dividend and a yield of 0.95%. This is a positive change from St. Joe’s previous quarterly dividend of $0.12. St. Joe’s dividend payout ratio (DPR) is currently 34.29%.

Hedge Funds Weigh In On St. Joe

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in St. Joe by 1.0% during the first quarter. Vanguard Group Inc. now owns 5,765,278 shares of the financial services provider’s stock valued at $334,213,000 after buying an additional 59,563 shares during the period. Bank of New York Mellon Corp lifted its position 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 valued at $19,217,000 after buying an additional 11,113 shares during the period. Charles Schwab Investment Management Inc. lifted its position in St. Joe by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 289,875 shares of the financial services provider’s stock valued at $17,445,000 after buying an additional 7,581 shares during the period. Capital Research Global Investors lifted its position in St. Joe by 41.0% during the fourth quarter. Capital Research Global Investors now owns 235,601 shares of the financial services provider’s stock valued at $14,178,000 after buying an additional 68,500 shares during the period. Finally, Norges Bank purchased a new position in St. Joe during the fourth quarter valued at $13,952,000. 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.