Bruce Berkowitz Sells 29,000 Shares of St. Joe (NYSE:JOE) Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 29,000 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $65.12, for a total value of $1,888,480.00. Following the completion of the sale, the insider directly owned 15,458,424 shares in the company, valued at $1,006,652,570.88. This represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

St. Joe Price Performance

Shares of NYSE JOE opened at $65.44 on Wednesday. St. Joe Company has a 1-year low of $45.75 and a 1-year high of $73.54. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.36 and a quick ratio of 2.36. The business’s fifty day moving average price is $65.71 and its two-hundred day moving average price is $65.10. The firm has a market capitalization of $3.76 billion, a PE ratio of 33.73 and a beta of 1.28.

St. Joe (NYSE:JOE) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share 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 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 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%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. SG Americas Securities LLC increased its holdings in shares of St. Joe by 138.2% during the fourth 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 during the period. Elo Mutual Pension Insurance Co acquired a new position in shares of St. Joe during the third quarter valued at $947,000. Horizon Investments LLC acquired a new position in shares of St. Joe during the fourth quarter valued at $1,653,000. Vanguard Group Inc. increased its holdings in shares of 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 valued at $294,866,000 after purchasing an additional 179,877 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of 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 valued at $20,160,000 after purchasing an additional 144,121 shares during the period. 86.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Trending Headlines about St. Joe

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

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.