Bruce Berkowitz Sells 26,000 Shares of St. Joe (NYSE:JOE) Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 26,000 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $50.31, for a total value of $1,308,060.00. Following the transaction, the insider directly owned 16,564,024 shares of the company’s stock, valued at approximately $833,336,047.44. This trade represents a 0.16% decrease in their ownership of the stock. The sale was disclosed in a 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 Stock Down 1.6%

St. Joe stock opened at $49.1470 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.45 and a quick ratio of 1.45. St. Joe Company has a 1-year low of $40.19 and a 1-year high of $62.49. The company has a market cap of $2.85 billion, a PE ratio of 34.61 and a beta of 1.37. The stock’s 50 day moving average price is $49.50 and its 200 day moving average price is $46.67.

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

St. Joe Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake 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 acquiring an additional 397 shares during the last quarter. Parkside Financial Bank & Trust raised its position in 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 acquiring an additional 657 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of St. Joe in the fourth quarter valued at about $38,000. Smartleaf Asset Management LLC grew its position in shares of St. Joe by 31.8% in 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. Finally, MAI Capital Management increased its stake in shares of St. Joe by 120.8% during the 1st quarter. MAI Capital Management now owns 1,104 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 604 shares in the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.