St. Joe (NYSE:JOE) Major Shareholder Bruce Berkowitz Sells 81,000 Shares

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 81,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $50.46, for a total value of $4,087,260.00. Following the completion of the transaction, the insider directly owned 16,454,024 shares in the company, valued at approximately $830,270,051.04. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

St. Joe Stock Performance

Shares of NYSE JOE opened at $50.81 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 35.78 and a beta of 1.37. The business’s 50-day simple moving average is $49.82 and its 200-day simple moving average is $46.75. St. Joe Company has a 52 week low of $40.19 and a 52 week high of $62.49.

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

St. Joe Dividend Announcement

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

Institutional Trading of St. Joe

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JOE. Envestnet Asset Management Inc. grew its holdings in St. Joe by 29.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 13,528 shares of the financial services provider’s stock valued at $608,000 after buying an additional 3,049 shares during the last quarter. Barclays PLC grew its holdings in St. Joe by 3.7% in the 4th quarter. Barclays PLC now owns 67,376 shares of the financial services provider’s stock valued at $3,027,000 after buying an additional 2,386 shares during the last quarter. XTX Topco Ltd acquired a new stake in St. Joe in the 4th quarter valued at approximately $210,000. MetLife Investment Management LLC grew its holdings in St. Joe by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 22,012 shares of the financial services provider’s stock valued at $989,000 after buying an additional 1,204 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of St. Joe by 35.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,216 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 1,869 shares during the period. Institutional investors and hedge funds own 86.67% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered St. Joe from a “buy” rating to a “hold” rating in a report 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.