St. Joe (NYSE:JOE) Major Shareholder Bruce Berkowitz Sells 29,200 Shares

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 29,200 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $65.13, for a total value of $1,901,796.00. Following the completion of the transaction, the insider owned 15,398,724 shares of the company’s stock, valued at $1,002,918,894.12. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

St. Joe Stock Up 0.4%

JOE opened at $64.83 on Friday. The firm has a 50-day simple moving average of $65.79 and a two-hundred day simple moving average of $65.22. St. Joe Company has a 52 week low of $45.75 and a 52 week high of $73.54. The company has a market capitalization of $3.72 billion, a PE ratio of 33.42 and a beta of 1.28. 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 announced its quarterly 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 company had revenue of $99.04 million for the quarter.

St. Joe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, June 9th. St. Joe’s dividend payout ratio is presently 32.99%.

Key Stories Impacting St. Joe

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

• Neutral Sentiment: Major shareholder Bruce R. Berkowitz sold 29,200 shares on June 10 at an average price of $65.13, trimming his ownership by 0.19%. SEC filing
• Neutral Sentiment: Berkowitz also sold 30,500 shares on June 9 at an average price of $65.10, reducing his stake by 0.20%. SEC filing
• Neutral Sentiment: Additional reports indicated more sales by Berkowitz, including 29,000, 33,600, and 59,100 shares, reinforcing the theme of insider selling around the mid-$65 range. Article

Hedge Funds Weigh In On St. Joe

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in 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 valued at $294,866,000 after purchasing an additional 179,877 shares in the last quarter. State Street Corp increased its stake in St. Joe by 1.5% during the 4th quarter. State Street Corp now owns 1,430,583 shares of the financial services provider’s stock valued at $84,934,000 after purchasing an additional 21,309 shares in the last quarter. Geode Capital Management LLC increased its stake in St. Joe by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 994,963 shares of the financial services provider’s stock valued at $59,081,000 after purchasing an additional 11,621 shares in the last quarter. Nitor Capital Management LLC acquired a new position in St. Joe during the 4th quarter valued at approximately $31,789,000. Finally, Victory Capital Management Inc. increased its stake in St. Joe by 5.4% during the 4th quarter. Victory Capital Management Inc. now owns 429,376 shares of the financial services provider’s stock valued at $25,492,000 after purchasing an additional 21,938 shares in the last quarter. 86.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JOE has been the topic of several research analyst reports. Weiss Ratings cut St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Wall Street Zen cut St. Joe from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average 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.