St. Joe (NYSE:JOE) Major Shareholder Sells $3,679,830.00 in Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 59,000 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $62.37, for a total transaction of $3,679,830.00. Following the completion of the sale, the insider directly owned 16,265,624 shares in the company, valued at $1,014,486,968.88. This represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

St. Joe Stock Down 0.2%

NYSE JOE traded down $0.13 on Wednesday, reaching $61.69. The company had a trading volume of 251,429 shares, compared to its average volume of 214,102. The company’s fifty day moving average is $56.30 and its 200-day moving average is $51.84. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 34.27 and a beta of 1.37. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.25 and a current ratio of 2.25. St. Joe Company has a 1-year low of $40.19 and a 1-year high of $63.13.

St. Joe (NYSE:JOE) last issued 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 for 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 dividend of $0.16 per share. The ex-dividend date was Thursday, November 13th. This is a positive change from St. Joe’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.0%. St. Joe’s dividend payout ratio is currently 35.56%.

Hedge Funds Weigh In On St. Joe

Large investors have recently made changes to their positions in the company. River Road Asset Management LLC grew its holdings in St. Joe by 86.0% during the 2nd quarter. River Road Asset Management LLC now owns 186,830 shares of the financial services provider’s stock valued at $9,435,000 after buying an additional 86,365 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in St. Joe during the 2nd quarter valued at $547,000. Prospera Financial Services Inc bought a new stake in shares of St. Joe in the 2nd quarter worth about $2,224,000. American Century Companies Inc. grew its holdings in St. Joe by 234.7% during the 1st quarter. American Century Companies Inc. now owns 20,595 shares of the financial services provider’s stock valued at $967,000 after purchasing an additional 14,442 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC grew its holdings in St. Joe by 1.0% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 555,891 shares of the financial services provider’s stock valued at $26,516,000 after purchasing an additional 5,552 shares during the last quarter. Institutional investors own 86.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of St. Joe in a research note on Monday. Wall Street Zen upgraded 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 MarketBeat.com, St. Joe has an average rating of “Buy”.

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.