Bruce Berkowitz Sells 86,500 Shares of St. Joe (NYSE:JOE) Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 86,500 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $66.09, for a total value of $5,716,785.00. Following the completion of the sale, the insider owned 15,609,324 shares in the company, valued at $1,031,620,223.16. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

St. Joe Stock Performance

Shares of JOE traded down $0.87 during trading hours on Tuesday, hitting $64.24. The company’s stock had a trading volume of 183,322 shares, compared to its average volume of 231,837. The business has a 50 day simple moving average of $67.41 and a two-hundred day simple moving average of $63.87. St. Joe Company has a 52-week low of $42.65 and a 52-week 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 company has a market cap of $3.69 billion, a price-to-earnings ratio of 33.11 and a beta of 1.31.

St. Joe (NYSE:JOE) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.24 EPS for the quarter. The company 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Tuesday, June 9th will be paid 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 payout ratio is currently 32.99%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On St. Joe

Large investors have recently modified their holdings of the company. Camelot Portfolios LLC bought a new stake in St. Joe during the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC increased its stake in shares of St. Joe by 155.7% during the second quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 397 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of St. Joe during the fourth quarter valued at approximately $32,000. Quarry LP bought a new stake in shares of St. Joe in the 3rd quarter worth approximately $39,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of St. Joe by 31.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 236 shares in the last quarter. 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.