St. Joe (NYSE:JOE) Major Shareholder Bruce Berkowitz Sells 59,100 Shares

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 59,100 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $65.09, for a total value of $3,846,819.00. Following the transaction, the insider directly owned 15,521,024 shares in the company, valued at approximately $1,010,263,452.16. The trade was a 0.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

St. Joe Price Performance

JOE opened at $64.75 on Tuesday. The stock’s 50-day moving average price is $65.63 and its 200 day moving average price is $65.03. St. Joe Company has a 12-month low of $45.75 and a 12-month high of $73.54. 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 market cap of $3.72 billion, a price-to-earnings ratio of 33.38 and a beta of 1.28.

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

St. Joe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Tuesday, June 9th will be given a $0.16 dividend. 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 (DPR) is currently 32.99%.

Analysts Set New Price Targets

Several analysts recently weighed in on JOE shares. Wall Street Zen cut shares of St. Joe from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings cut shares of St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, St. Joe currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Camelot Portfolios LLC acquired a new position in St. Joe during the fourth quarter worth approximately $30,000. EverSource Wealth Advisors LLC increased its position in St. Joe by 155.7% during 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. Kestra Advisory Services LLC acquired a new position in St. Joe during the fourth quarter worth approximately $32,000. Quarry LP acquired a new position in St. Joe during the third quarter worth approximately $39,000. Finally, Smartleaf Asset Management LLC increased its position in St. Joe by 31.8% during 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. 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.