Bruce Berkowitz Sells 13,900 Shares of St. Joe (NYSE:JOE) Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 13,900 shares of the stock in a transaction on Friday, January 16th. The shares were sold at an average price of $65.50, for a total value of $910,450.00. Following the transaction, the insider directly owned 16,151,124 shares of the company’s stock, valued at approximately $1,057,898,622. The trade was a 0.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Major 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 2.1%

NYSE:JOE traded down $1.35 during trading hours on Tuesday, hitting $64.04. 133,553 shares of the company’s stock traded hands, compared to its average volume of 212,804. The firm has a market cap of $3.70 billion, a P/E ratio of 35.58 and a beta of 1.32. The stock’s fifty day moving average price is $60.70 and its two-hundred day moving average price is $54.26. St. Joe Company has a twelve month low of $40.19 and a twelve month high of $66.08. 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 (NYSE:JOE) last released its earnings results on Wednesday, October 29th. The financial services provider reported $0.67 earnings per share for the quarter. St. Joe had a net margin of 21.40% and a return on equity of 13.96%. The firm had revenue of $161.08 million during the quarter.

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 given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.64 annualized dividend and a yield of 1.0%. This is an increase from St. Joe’s previous quarterly dividend of $0.14. St. Joe’s payout ratio is presently 35.56%.

Institutional Investors Weigh In On St. Joe

Institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC bought a new stake in shares of St. Joe during the 4th quarter valued at $92,000. Wealthcare Advisory Partners LLC purchased a new position in shares of St. Joe in the 4th quarter valued at approximately $205,000. Pallas Capital Advisors LLC purchased a new stake in St. Joe in the fourth quarter valued at $200,000. Byrne Asset Management LLC increased its stake in shares of St. Joe by 98.0% during the fourth quarter. Byrne Asset Management LLC now owns 10,276 shares of the financial services provider’s stock worth $610,000 after purchasing an additional 5,085 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in St. Joe by 138.2% in the fourth quarter. SG Americas Securities LLC now owns 38,860 shares of the financial services provider’s stock valued at $2,307,000 after acquiring an additional 22,547 shares during the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on JOE shares. Weiss Ratings restated a “buy (b-)” rating on shares of St. Joe in a research report on Monday, December 29th. Wall Street Zen raised shares of St. Joe from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. One investment 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 (NYSE: JOE) is a leading real estate development and asset management firm focused on Northwest Florida. Headquartered in Jacksonville, the company owns and manages approximately 171,000 acres of land across Bay, Gulf, Franklin and Walton counties. St. Joe’s core businesses include residential community development, commercial real estate, and hospitality, with an emphasis on master-planned neighborhoods, office and retail campuses, resort hotels and mixed-use town centers.

Founded in 1936 as a paper manufacturing company, St.