Bruce Berkowitz Sells 94,200 Shares of St. Joe (NYSE:JOE) Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 94,200 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $65.59, for a total transaction of $6,178,578.00. Following the transaction, the insider owned 15,240,724 shares in the company, valued at $999,639,087.16. The trade was a 0.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

St. Joe Stock Down 1.4%

St. Joe stock opened at $63.45 on Thursday. 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 Company has a 12-month low of $45.83 and a 12-month high of $73.54. The firm’s fifty day moving average is $65.76 and its 200 day moving average is $65.34. The company has a market capitalization of $3.64 billion, a PE ratio of 32.71 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 earnings per share (EPS) for the quarter. St. Joe had a net margin of 21.61% and a return on equity of 14.59%. The company had revenue of $99.04 million for the quarter.

St. Joe Dividend Announcement

The business 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 9th. St. Joe’s payout ratio is presently 32.99%.

Institutional Trading of St. Joe

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its stake in St. Joe by 138.2% during the 4th quarter. SG Americas Securities LLC now owns 38,860 shares of the financial services provider’s stock valued at $2,307,000 after purchasing an additional 22,547 shares in the last quarter. Elo Mutual Pension Insurance Co bought a new stake in St. Joe during the 3rd quarter valued at $947,000. Horizon Investments LLC bought a new stake in St. Joe during the 4th quarter valued at $1,653,000. Vanguard Group Inc. increased its stake in St. Joe by 3.1% during 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 purchasing an additional 179,877 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in St. Joe by 54.7% during the 3rd quarter. Victory Capital Management Inc. now owns 407,438 shares of the financial services provider’s stock valued at $20,160,000 after purchasing an additional 144,121 shares in the last quarter. Institutional investors own 86.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on JOE shares. Wall Street Zen downgraded shares of St. Joe from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings downgraded shares of 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, According to data from MarketBeat, the company has an average 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.