St. Joe (NYSE:JOE) Major Shareholder Sells $4,162,950.00 in Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 63,800 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $65.25, for a total value of $4,162,950.00. Following the completion of the sale, the insider directly owned 15,334,924 shares of the company’s stock, valued at approximately $1,000,603,791. This represents a 0.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

St. Joe Trading Up 3.6%

JOE stock opened at $65.80 on Friday. The company has a market capitalization of $3.78 billion, a PE ratio of 33.92 and a beta of 1.28. St. Joe Company has a one year low of $45.83 and a one year high of $73.54. The company’s 50 day moving average price is $65.77 and its two-hundred day moving average price is $65.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.36 and a current ratio of 2.36.

St. Joe (NYSE:JOE) last announced its quarterly earnings data 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Tuesday, June 9th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $0.64 annualized dividend and a yield of 1.0%. St. Joe’s payout ratio is currently 32.99%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JOE. Weiss Ratings cut St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Wall Street Zen lowered St. Joe from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, St. Joe has an average rating of “Hold”.

Institutional Investors Weigh In On St. Joe

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Camelot Portfolios LLC bought a new stake in shares of St. Joe in the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC raised its position in St. Joe by 155.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 397 shares during the last quarter. Kestra Advisory Services LLC bought a new position in St. Joe during the 4th quarter valued at approximately $32,000. Quarry LP purchased a new stake in St. Joe in the 3rd quarter worth approximately $39,000. Finally, Smartleaf Asset Management LLC lifted its holdings in 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 buying an additional 236 shares during the period. 86.67% of the stock is currently owned by institutional investors.

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.