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 dated Monday, May 11th. The shares were sold at an average price of $65.49, for a total transaction of $1,912,308.00. Following the completion of the transaction, the insider owned 15,580,124 shares in the company, valued at approximately $1,020,342,320.76. This trade represents a 0.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

St. Joe Stock Down 1.3%

Shares of JOE opened at $64.24 on Wednesday. The firm’s 50-day simple moving average is $67.25 and its 200 day simple moving average is $63.96. 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 quick ratio of 2.36 and a current ratio of 2.36. The firm has a market cap of $3.69 billion, a P/E ratio of 33.11 and a beta of 1.31.

St. Joe (NYSE:JOE) last issued 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 during the quarter.

St. Joe Announces Dividend

The business 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 $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 is presently 32.99%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in St. Joe by 39.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 679 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 193 shares during the last quarter. HRT Financial LP raised its holdings in St. Joe by 0.7% during the 2nd quarter. HRT Financial LP now owns 32,349 shares of the financial services provider’s stock valued at $1,543,000 after buying an additional 213 shares during the last quarter. ProShare Advisors LLC raised its holdings in St. Joe by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 7,428 shares of the financial services provider’s stock valued at $441,000 after buying an additional 218 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in St. Joe by 31.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock valued at $48,000 after buying an additional 236 shares during the last quarter. Finally, Arete Wealth Advisors LLC raised its holdings in St. Joe by 5.3% during the 4th quarter. Arete Wealth Advisors LLC now owns 6,059 shares of the financial services provider’s stock valued at $360,000 after buying an additional 303 shares during the last quarter. 86.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

JOE has been the subject of several recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of St. Joe in a research report on Friday. Wall Street Zen cut shares of St. Joe from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy”.

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.