St. Joe (NYSE:JOE) Major Shareholder Bruce Berkowitz Sells 163,600 Shares of Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 163,600 shares of St. Joe stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $65.78, for a total value of $10,761,608.00. Following the completion of the transaction, the insider directly owned 15,720,824 shares of the company’s stock, valued at approximately $1,034,115,802.72. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

St. Joe Trading Down 1.0%

NYSE JOE opened at $65.05 on Friday. The stock has a market capitalization of $3.73 billion, a P/E ratio of 33.53 and a beta of 1.31. St. Joe Company has a one year low of $42.65 and a one year high of $73.54. The business has a 50 day simple moving average of $67.55 and a 200 day simple moving average of $63.64. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.36 and a quick ratio of 2.36.

St. Joe (NYSE:JOE) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share for the quarter. The company had revenue of $99.04 million during the quarter. St. Joe had a net margin of 21.61% and a return on equity of 14.59%.

St. Joe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 9th. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. St. Joe’s dividend payout ratio is currently 32.99%.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded St. Joe from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of St. Joe by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,959,298 shares of the financial services provider’s stock worth $294,866,000 after acquiring an additional 179,877 shares in the last quarter. State Street Corp increased its position in shares of St. Joe by 1.5% during the fourth quarter. State Street Corp now owns 1,430,583 shares of the financial services provider’s stock valued at $84,934,000 after acquiring an additional 21,309 shares during the last quarter. Geode Capital Management LLC boosted its position in St. Joe by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 994,963 shares of the financial services provider’s stock worth $59,081,000 after purchasing an additional 11,621 shares during the last quarter. Nitor Capital Management LLC bought a new position in St. Joe in the 4th quarter valued at $31,789,000. Finally, Victory Capital Management Inc. increased its position in shares of St. Joe by 5.4% during the 4th quarter. Victory Capital Management Inc. now owns 429,376 shares of the financial services provider’s stock valued at $25,492,000 after purchasing an additional 21,938 shares during the last quarter. Institutional investors own 86.67% of the company’s stock.

St. Joe Company Profile

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.