Bruce Berkowitz Sells 30,500 Shares of St. Joe (NYSE:JOE) Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 30,500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $65.10, for a total transaction of $1,985,550.00. Following the transaction, the insider directly owned 15,427,924 shares in the company, valued at approximately $1,004,357,852.40. The trade was a 0.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

St. Joe Stock Up 0.1%

St. Joe stock opened at $65.03 on Friday. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 33.52 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 company’s 50-day moving average price is $65.80 and its two-hundred day moving average price is $65.22. St. Joe Company has a 52 week low of $45.75 and a 52 week high of $73.54.

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 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 business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders 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 annualized dividend and a yield of 1.0%. St. Joe’s dividend payout ratio (DPR) is presently 32.99%.

Analysts Set New Price Targets

JOE has been the topic of several research analyst reports. Wall Street Zen cut shares of St. Joe from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings cut shares of 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 stock presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in shares of St. Joe by 138.2% during the fourth quarter. SG Americas Securities LLC now owns 38,860 shares of the financial services provider’s stock worth $2,307,000 after purchasing an additional 22,547 shares during the period. Elo Mutual Pension Insurance Co acquired a new stake in shares of St. Joe during the third quarter worth approximately $947,000. Horizon Investments LLC acquired a new stake in shares of St. Joe during the fourth quarter worth approximately $1,653,000. Vanguard Group Inc. boosted its holdings in shares of St. Joe by 3.1% during the third quarter. Vanguard Group Inc. now owns 5,959,298 shares of the financial services provider’s stock worth $294,866,000 after purchasing an additional 179,877 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of St. Joe by 54.7% during the third quarter. Victory Capital Management Inc. now owns 407,438 shares of the financial services provider’s stock worth $20,160,000 after purchasing an additional 144,121 shares during the period. 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.