St. Joe (NYSE:JOE) Major Shareholder Bruce Berkowitz Sells 26,700 Shares

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 26,700 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $65.03, for a total transaction of $1,736,301.00. Following the transaction, the insider directly owned 15,214,024 shares of the company’s stock, valued at $989,367,980.72. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

St. Joe Stock Down 0.8%

St. Joe stock opened at $64.55 on Wednesday. St. Joe Company has a twelve month low of $45.83 and a twelve month high of $73.54. The firm has a 50 day moving average price of $65.79 and a 200-day moving average price of $65.32. The company has a market capitalization of $3.71 billion, a P/E ratio of 33.27 and a beta of 1.28. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.72.

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

St. Joe Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on JOE. Weiss Ratings downgraded shares of St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Wall Street Zen downgraded shares of St. Joe from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC boosted its holdings in St. Joe by 197.6% in the 1st quarter. Empowered Funds LLC now owns 4,139 shares of the financial services provider’s stock worth $260,000 after buying an additional 2,748 shares during the period. Janus Henderson Group PLC boosted its holdings in St. Joe by 9.4% in the 1st quarter. Janus Henderson Group PLC now owns 153,122 shares of the financial services provider’s stock worth $9,617,000 after buying an additional 13,175 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in St. Joe by 24.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 847 shares of the financial services provider’s stock worth $53,000 after buying an additional 168 shares during the period. Emmett Investment Management LP bought a new position in St. Joe in the 1st quarter worth approximately $1,713,000. Finally, Quantinno Capital Management LP boosted its holdings in St. Joe by 35.6% in the 1st quarter. Quantinno Capital Management LP now owns 15,554 shares of the financial services provider’s stock worth $977,000 after buying an additional 4,085 shares during the period. 86.67% of the stock is owned by institutional investors.

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.