St. Joe (NYSE:JOE) Major Shareholder Bruce Berkowitz Sells 94,200 Shares of Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 94,200 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $65.59, for a total transaction of $6,178,578.00. Following the completion of the sale, the insider directly owned 15,240,724 shares in the company, valued at $999,639,087.16. This represents a 0.61% 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 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

St. Joe Stock Down 0.8%

NYSE:JOE opened at $64.55 on Wednesday. The firm’s 50-day moving average price is $65.79 and its 200-day moving average price is $65.32. The company has a market capitalization of $3.71 billion, a PE ratio of 33.27 and a beta of 1.28. 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 Company has a 1-year low of $45.83 and a 1-year high of $73.54.

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. The firm had revenue of $99.04 million for the quarter. St. Joe had a net margin of 21.61% and a return on equity of 14.59%.

St. Joe Dividend Announcement

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

Hedge Funds Weigh In On St. Joe

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in St. Joe by 24.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 847 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 168 shares during the period. HRT Financial LP lifted its stake in shares of St. Joe by 0.7% in the 2nd quarter. HRT Financial LP now owns 32,349 shares of the financial services provider’s stock worth $1,543,000 after purchasing an additional 213 shares during the period. ProShare Advisors LLC lifted its stake in shares of St. Joe by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 7,428 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 218 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of St. Joe by 31.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 236 shares during the period. Finally, Arete Wealth Advisors LLC lifted its stake in shares of St. Joe by 5.3% in the 4th quarter. Arete Wealth Advisors LLC now owns 6,059 shares of the financial services provider’s stock worth $360,000 after purchasing an additional 303 shares during the period. Institutional investors own 86.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on JOE shares. Wall Street Zen downgraded shares of St. Joe from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. 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. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, St. Joe presently has an average rating of “Hold”.

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.