St. Joe (NYSE:JOE) Major Shareholder Bruce Berkowitz Sells 29,000 Shares

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 29,000 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $65.12, for a total value of $1,888,480.00. Following the transaction, the insider directly owned 15,458,424 shares in the company, valued at approximately $1,006,652,570.88. This represents a 0.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 Trading Down 0.2%

NYSE:JOE opened at $64.75 on Tuesday. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $65.63 and its two-hundred day moving average is $65.03. St. Joe Company has a 52 week low of $45.75 and a 52 week high of $73.54. The company has a market cap of $3.72 billion, a PE ratio of 33.38 and a beta of 1.28.

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

St. Joe Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have weighed in on JOE shares. Wall Street Zen downgraded 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 note on Friday, May 22nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On St. Joe

Several hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of 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 purchasing an additional 168 shares during the period. HRT Financial LP increased its position in shares of St. Joe by 0.7% during the 2nd quarter. HRT Financial LP now owns 32,349 shares of the financial services provider’s stock valued at $1,543,000 after purchasing an additional 213 shares during the period. ProShare Advisors LLC grew its holdings 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 acquiring an additional 218 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings 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 acquiring an additional 236 shares during the last quarter. Finally, Arete Wealth Advisors LLC grew its holdings 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 acquiring an additional 303 shares during the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

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.