Bruce Berkowitz Sells 33,600 Shares of St. Joe (NYSE:JOE) Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 33,600 shares of St. Joe stock in a transaction on Friday, June 5th. The stock was sold at an average price of $65.18, for a total transaction of $2,190,048.00. Following the completion of the transaction, the insider directly owned 15,487,424 shares of the company’s stock, valued at $1,009,470,296.32. The trade was a 0.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

St. Joe Stock Performance

Shares of NYSE:JOE opened at $65.44 on Wednesday. St. Joe Company has a 52 week low of $45.75 and a 52 week high of $73.54. The stock has a market capitalization of $3.76 billion, a P/E ratio of 33.73 and a beta of 1.28. The firm has a fifty day simple moving average of $65.71 and a two-hundred day simple moving average of $65.10. 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 issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.24 EPS 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 during the quarter.

St. Joe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Tuesday, June 9th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 9th. St. Joe’s dividend payout ratio (DPR) is presently 32.99%.

Hedge Funds Weigh In On St. Joe

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in shares of 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 worth $2,307,000 after purchasing an additional 22,547 shares during the period. Elo Mutual Pension Insurance Co purchased a new position in shares of St. Joe during the 3rd quarter worth about $947,000. Horizon Investments LLC purchased a new position in shares of St. Joe during the 4th quarter worth about $1,653,000. Vanguard Group Inc. boosted its stake in shares of 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 worth $294,866,000 after purchasing an additional 179,877 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of 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 worth $20,160,000 after purchasing an additional 144,121 shares during the period. 86.67% of the stock is owned by hedge funds and other institutional investors.

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

Analyst Ratings Changes

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

St. Joe Company Profile

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.