Bruce Berkowitz Sells 81,000 Shares of St. Joe (NYSE:JOE) Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 81,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $50.46, for a total transaction of $4,087,260.00. Following the transaction, the insider owned 16,454,024 shares in the company, valued at approximately $830,270,051.04. This trade represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

St. Joe Stock Performance

Shares of JOE traded up $0.56 during mid-day trading on Tuesday, reaching $50.81. 181,068 shares of the company’s stock were exchanged, compared to its average volume of 252,327. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market capitalization of $2.94 billion, a PE ratio of 35.78 and a beta of 1.37. The business’s fifty day simple moving average is $49.73 and its 200-day simple moving average is $46.72. St. Joe Company has a 52-week low of $40.19 and a 52-week high of $62.49.

St. Joe (NYSE:JOE) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter. The company had revenue of $129.10 million for the quarter. St. Joe had a net margin of 19.39% and a return on equity of 11.19%.

St. Joe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 22nd. St. Joe’s payout ratio is currently 39.44%.

Institutional Investors Weigh In On St. Joe

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position in shares of 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 buying an additional 397 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of St. Joe by 2,265.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 686 shares of the financial services provider’s stock worth $33,000 after buying an additional 657 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of St. Joe in the 4th quarter worth about $38,000. Smartleaf Asset Management LLC boosted its position in shares of St. Joe by 31.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock worth $48,000 after buying an additional 236 shares in the last quarter. Finally, MAI Capital Management boosted its position in shares of St. Joe by 120.8% in the 1st quarter. MAI Capital Management now owns 1,104 shares of the financial services provider’s stock worth $52,000 after buying an additional 604 shares in the last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of St. Joe from a “buy” rating to a “hold” rating in a research note on Sunday, June 8th.

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.