Bruce Berkowitz Sells 6,800 Shares of St. Joe (NYSE:JOE) Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 6,800 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $62.18, for a total transaction of $422,824.00. Following the completion of the sale, the insider owned 16,258,824 shares in the company, valued at approximately $1,010,973,676.32. The trade was a 0.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 St. Joe stock traded down $0.13 during trading on Wednesday, reaching $61.69. 251,429 shares of the stock traded hands, compared to its average volume of 214,102. St. Joe Company has a 52-week low of $40.19 and a 52-week high of $63.13. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.25 and a quick ratio of 2.25. The business has a fifty day simple moving average of $56.30 and a two-hundred day simple moving average of $51.84. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 34.27 and a beta of 1.37.

St. Joe (NYSE:JOE) last announced its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $0.67 EPS for the quarter. The company had revenue of $161.08 million during the quarter. St. Joe had a return on equity of 13.96% and a net margin of 21.40%.

St. Joe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Thursday, November 13th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from St. Joe’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, November 13th. St. Joe’s payout ratio is 35.56%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of JOE. Financial Consulate Inc. bought a new stake in shares of St. Joe in the 3rd quarter worth about $31,000. EverSource Wealth Advisors LLC raised its position in St. Joe by 155.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 397 shares during the period. Parkside Financial Bank & Trust lifted its stake in St. Joe by 2,265.5% in the second quarter. Parkside Financial Bank & Trust now owns 686 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 657 shares during the last quarter. Quarry LP purchased a new position in shares of St. Joe during the third quarter valued at approximately $39,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of St. Joe by 31.8% during the second quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock valued at $48,000 after buying an additional 236 shares during the last quarter. Institutional investors own 86.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of St. Joe in a research report on Monday. Wall Street Zen upgraded shares of St. Joe from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, St. Joe currently has an average rating of “Buy”.

St. Joe Company Profile

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.