St. Joe (NYSE:JOE) Major Shareholder Bruce Berkowitz Sells 33,600 Shares

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 33,600 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $65.18, for a total value of $2,190,048.00. Following the transaction, the insider directly owned 15,487,424 shares of the company’s stock, valued at approximately $1,009,470,296.32. The trade was a 0.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

St. Joe Price Performance

St. Joe stock traded down $0.12 during midday trading on Monday, reaching $64.75. 186,620 shares of the stock traded hands, compared to its average volume of 223,422. The stock’s fifty day moving average is $65.54 and its 200-day moving average is $64.98. St. Joe Company has a 12 month low of $45.75 and a 12 month high of $73.54. The stock has a market cap of $3.72 billion, a P/E ratio of 33.38 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 announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.24 EPS for the quarter. St. Joe had a return on equity of 14.59% and a net margin of 21.61%.The company had revenue of $99.04 million during the quarter.

St. Joe Announces Dividend

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

Institutional Investors Weigh In On St. Joe

Hedge funds and other institutional investors have recently modified their holdings of the business. Camelot Portfolios LLC purchased a new stake in shares of St. Joe in the fourth quarter worth approximately $30,000. Kestra Advisory Services LLC purchased a new stake in shares of St. Joe in the fourth quarter worth approximately $32,000. EverSource Wealth Advisors LLC raised its holdings in shares of St. Joe by 155.7% in the second quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock worth $31,000 after buying an additional 397 shares during the period. Quarry LP purchased a new stake in shares of St. Joe in the third quarter worth approximately $39,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of St. Joe by 31.8% in the second 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 hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wall Street Zen lowered St. Joe from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings downgraded St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus 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.