Bruce Berkowitz Sells 140,400 Shares of St. Joe (NYSE:JOE) Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 140,400 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $65.71, for a total transaction of $9,225,684.00. Following the completion of the sale, the insider directly owned 15,073,624 shares in the company, valued at approximately $990,487,833.04. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

St. Joe Price Performance

JOE stock opened at $66.82 on Thursday. The firm has a 50 day moving average of $65.65 and a 200-day moving average of $65.51. The firm has a market capitalization of $3.84 billion, a P/E ratio of 34.44 and a beta of 1.28. St. Joe Company has a 12 month low of $46.37 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.

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

St. Joe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders 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 32.99%.

Institutional Investors Weigh In On St. Joe

Several hedge funds have recently bought and sold shares of the stock. Camelot Portfolios LLC bought a new position in shares of St. Joe in the 4th quarter worth $30,000. EverSource Wealth Advisors LLC raised its position in shares of St. Joe by 155.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock valued at $31,000 after buying an additional 397 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of St. Joe during the 4th quarter worth $32,000. Quarry LP bought a new stake in shares of St. Joe during the 3rd quarter worth $39,000. Finally, Smartleaf Asset Management LLC grew its position in St. Joe by 31.8% in the second quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 236 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Weiss Ratings downgraded St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Wall Street Zen cut St. Joe from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, 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.