St. Joe (NYSE:JOE) Major Shareholder Sells $1,912,308.00 in Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 29,200 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $65.49, for a total value of $1,912,308.00. Following the completion of the sale, the insider directly owned 15,580,124 shares of the company’s stock, valued at approximately $1,020,342,320.76. This represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

St. Joe Stock Down 1.3%

NYSE:JOE traded down $0.87 on Tuesday, hitting $64.24. 183,322 shares of the company’s stock traded hands, compared to its average volume of 231,837. The company has a market cap of $3.69 billion, a PE ratio of 33.11 and a beta of 1.31. St. Joe Company has a 1 year low of $42.65 and a 1 year 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 50-day moving average price of $67.41 and a 200-day moving average price of $63.87.

St. Joe (NYSE:JOE) last posted its quarterly 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 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 given a $0.16 dividend. The ex-dividend date 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 is presently 32.99%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Nitor Capital Management LLC bought a new position in shares of St. Joe during the 4th quarter valued at $31,789,000. Vanguard Group Inc. increased its position in 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 buying an additional 179,877 shares during the last quarter. Victory Capital Management Inc. increased its position in 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 buying an additional 144,121 shares during the last quarter. Select Equity Group L.P. bought a new position in St. Joe during the second quarter valued at about $6,347,000. Finally, Janus Henderson Group PLC lifted its position in shares of St. Joe by 668.3% in the fourth quarter. Janus Henderson Group PLC now owns 139,947 shares of the financial services provider’s stock worth $8,310,000 after buying an additional 121,733 shares during the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of St. Joe from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “buy (b-)” rating on shares of St. Joe in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, St. Joe presently has an average rating of “Buy”.

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.