St. Joe (NYSE:JOE) Major Shareholder Sells $1,736,301.00 in Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 26,700 shares of St. Joe stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $65.03, for a total value of $1,736,301.00. Following the sale, the insider owned 15,214,024 shares of the company’s stock, valued at approximately $989,367,980.72. This trade represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 Up 3.6%

Shares of JOE opened at $65.80 on Friday. The firm has a fifty day moving average price of $65.77 and a 200-day moving average price of $65.38. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $3.78 billion, a P/E ratio of 33.92 and a beta of 1.28. St. Joe Company has a 12-month low of $45.83 and a 12-month high of $73.54.

St. Joe (NYSE:JOE) last posted its quarterly earnings results 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 company 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. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. St. Joe’s dividend payout ratio (DPR) is 32.99%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On St. Joe

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC raised 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 acquiring an additional 22,547 shares in the last quarter. Elo Mutual Pension Insurance Co purchased a new stake in St. Joe during the third quarter valued at approximately $947,000. Horizon Investments LLC acquired a new stake in St. Joe in the fourth quarter valued at approximately $1,653,000. Vanguard Group Inc. boosted its stake in St. Joe by 3.1% in 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 acquiring an additional 179,877 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in St. Joe by 54.7% in the third 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 last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

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.