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 on Friday, May 8th. The stock was sold at an average price of $66.09, for a total value of $5,716,785.00. Following the completion of the transaction, the insider owned 15,609,324 shares of the company’s stock, valued at $1,031,620,223.16. This represents a 0.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

St. Joe Stock Performance

Shares of St. Joe stock traded down $0.87 during trading on Tuesday, hitting $64.24. 183,322 shares of the company’s stock traded hands, compared to its average volume of 231,837. St. Joe Company has a 1 year low of $42.65 and a 1 year high of $73.54. The business has a 50-day simple moving average of $67.41 and a 200-day simple moving average of $63.87. The stock has a market capitalization of $3.69 billion, a P/E ratio of 33.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.36 and a quick ratio of 2.36.

St. Joe (NYSE:JOE) last announced 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 firm had revenue of $99.04 million during the quarter.

St. Joe Announces Dividend

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

Institutional Investors Weigh In On St. Joe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Camelot Portfolios LLC purchased a new position in shares of St. Joe during the 4th quarter worth about $30,000. EverSource Wealth Advisors LLC boosted its position in St. Joe by 155.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock valued at $31,000 after buying an additional 397 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of St. Joe during the fourth quarter valued at approximately $32,000. Quarry LP bought a new position in St. Joe in the third quarter worth approximately $39,000. Finally, Smartleaf Asset Management LLC raised its position 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 purchasing an additional 236 shares in the last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on JOE shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of St. Joe in a research note on Friday. Wall Street Zen downgraded shares of St. Joe from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

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.