Bruce Berkowitz Sells 6,100 Shares of St. Joe (NYSE:JOE) Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 6,100 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $62.00, for a total transaction of $378,200.00. Following the completion of the transaction, the insider owned 16,252,724 shares in the company, valued at approximately $1,007,668,888. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

St. Joe Price Performance

Shares of NYSE:JOE opened at $61.34 on Friday. The company has a market cap of $3.54 billion, a PE ratio of 34.08 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 firm has a 50-day simple moving average of $56.58 and a 200 day simple moving average of $51.90. 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 issued its earnings results on Wednesday, October 29th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter. The firm had revenue of $161.08 million for the quarter. St. Joe had a net margin of 21.40% and a return on equity of 13.96%.

St. Joe Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. HRT Financial LP boosted its stake in shares of St. Joe by 0.7% during the 2nd quarter. HRT Financial LP now owns 32,349 shares of the financial services provider’s stock valued at $1,543,000 after buying an additional 213 shares during the period. GAMMA Investing LLC raised its holdings in shares of St. Joe by 21.1% during the second quarter. GAMMA Investing LLC now owns 1,295 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 226 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in 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 purchasing an additional 236 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in St. Joe by 6.5% in the second quarter. Ameritas Investment Partners Inc. now owns 3,890 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 237 shares in the last quarter. Finally, Cresset Asset Management LLC increased its position in St. Joe by 8.3% in the 3rd quarter. Cresset Asset Management LLC now owns 4,876 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 373 shares during the last quarter. 86.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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