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

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 6,800 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $62.18, for a total value of $422,824.00. Following the sale, the insider directly owned 16,258,824 shares in the company, valued at $1,010,973,676.32. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

St. Joe Price Performance

Shares of NYSE:JOE traded down $0.33 during trading on Thursday, reaching $61.41. 5,414 shares of the company’s stock traded hands, compared to its average volume of 238,238. The firm has a market cap of $3.55 billion, a PE ratio of 34.01 and a beta of 1.37. St. Joe Company has a fifty-two week low of $40.19 and a fifty-two week high of $63.13. The company has a 50-day simple moving average of $56.30 and a 200-day simple moving average of $51.84. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.75.

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

St. Joe Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Thursday, November 13th were given a dividend of $0.16 per share. This is a boost from St. Joe’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, November 13th. St. Joe’s dividend payout ratio (DPR) is 35.56%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on JOE shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of St. Joe in a report on Monday. Wall Street Zen upgraded St. Joe from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Buy rating, According to MarketBeat, St. Joe presently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Financial Consulate Inc. purchased a new stake in St. Joe during the third quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its holdings 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 valued at $31,000 after purchasing an additional 397 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of St. Joe by 2,265.5% during 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 in the last quarter. Quarry LP purchased a new stake in shares of St. Joe in the third quarter worth about $39,000. Finally, Smartleaf Asset Management LLC lifted its position in St. Joe by 31.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 236 shares in the last quarter. 86.67% of the stock is currently owned by hedge funds and other 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.