St. Joe (NYSE:JOE) Major Shareholder Sells $6,178,578.00 in Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 94,200 shares of the 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 sale, the insider owned 15,240,724 shares of the company’s stock, valued at $999,639,087.16. This trade represents a 0.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Price Performance

Shares of St. Joe stock traded down $0.52 during mid-day trading on Tuesday, reaching $64.55. 212,010 shares of the stock were exchanged, compared to its average volume of 223,790. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 33.27 and a beta of 1.28. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.72. The firm has a 50-day simple moving average of $65.80 and a 200 day simple moving average of $65.30. St. Joe Company has a fifty-two week low of $45.83 and a fifty-two week high of $73.54.

St. Joe (NYSE:JOE) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. The business 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 Announces Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, June 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. St. Joe’s dividend payout ratio (DPR) is 32.99%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JOE. Wall Street Zen cut shares of St. Joe from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings cut 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, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On St. Joe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in 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 valued at $294,866,000 after acquiring an additional 179,877 shares in the last quarter. State Street Corp increased its position in St. Joe by 1.5% in the 4th 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 in the last quarter. Geode Capital Management LLC increased its position in St. Joe by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 994,963 shares of the financial services provider’s stock valued at $59,081,000 after acquiring an additional 11,621 shares in the last quarter. Nitor Capital Management LLC acquired a new stake in St. Joe in the 4th quarter valued at about $31,789,000. Finally, Victory Capital Management Inc. increased its position in St. Joe by 5.4% in 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 acquiring an additional 21,938 shares in the last quarter. Institutional investors and hedge funds 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.