Bruce Berkowitz Sells 59,100 Shares of St. Joe (NYSE:JOE) Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 59,100 shares of St. Joe stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $65.09, for a total transaction of $3,846,819.00. Following the completion of the sale, the insider owned 15,521,024 shares in the company, valued at approximately $1,010,263,452.16. This trade represents a 0.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

St. Joe Stock Performance

NYSE:JOE opened at $65.44 on Wednesday. The stock has a market cap of $3.76 billion, a P/E ratio of 33.73 and a beta of 1.28. The firm’s fifty day simple moving average is $65.71 and its 200 day simple moving average is $65.10. St. Joe Company has a twelve month low of $45.75 and a twelve month high of $73.54. 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 (NYSE:JOE) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share for the quarter. The business 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Tuesday, June 9th will be given 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 currently 32.99%.

St. Joe News Roundup

Here are the key news stories impacting St. Joe this week:

• Positive Sentiment: St. Joe shares are getting some support from its recently declared quarterly dividend of $0.16 per share, with the ex-dividend date on June 9 and payment scheduled for June 25. Income-focused investors may view the payout as a sign of stable cash generation. St. Joe insider trades and dividend details
• Neutral Sentiment: Despite recent insider selling, major shareholder Bruce Berkowitz still holds a very large stake in the company after selling 29,000 shares on June 8 and additional blocks on June 4 and June 5. The sales are modest relative to his overall ownership, so the signal is more watchful than alarming. Insider sale alert
• Neutral Sentiment: There were no new earnings results or major operational updates in the latest news flow; the company’s most recent quarterly results already showed solid profitability, with $0.24 EPS and $99.04 million in revenue. St. Joe stock overview

Wall Street Analyst Weigh In

JOE has been the subject of several recent research reports. Wall Street Zen lowered St. Joe from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings lowered St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Institutional Investors Weigh In On St. Joe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in St. Joe by 24.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 847 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 168 shares in the last quarter. HRT Financial LP raised its holdings in St. Joe by 0.7% during the second quarter. HRT Financial LP now owns 32,349 shares of the financial services provider’s stock valued at $1,543,000 after acquiring an additional 213 shares during the period. ProShare Advisors LLC raised its holdings in St. Joe by 3.0% during the fourth quarter. ProShare Advisors LLC now owns 7,428 shares of the financial services provider’s stock valued at $441,000 after acquiring an additional 218 shares during the period. Smartleaf Asset Management LLC raised its holdings 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 valued at $48,000 after acquiring an additional 236 shares during the period. Finally, Arete Wealth Advisors LLC raised its holdings in St. Joe by 5.3% during the fourth quarter. Arete Wealth Advisors LLC now owns 6,059 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 303 shares during the period. 86.67% of the stock is owned by hedge funds and other institutional investors.

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.