Bruce Berkowitz Sells 29,200 Shares of St. Joe (NYSE:JOE) Stock

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

St. Joe Stock Up 0.1%

Shares of NYSE JOE opened at $65.03 on Friday. The firm’s 50-day simple moving average is $65.80 and its 200 day simple moving average is $65.22. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 33.52 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 Company has a 12-month low of $45.75 and a 12-month high of $73.54.

St. Joe (NYSE:JOE) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. The business had revenue of $99.04 million for the quarter. St. Joe had a net margin of 21.61% and a return on equity of 14.59%.

St. Joe Announces Dividend

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

Analysts Set New Price Targets

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

Institutional Trading of St. Joe

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC increased its stake in shares of St. Joe by 9.4% in the 1st quarter. Janus Henderson Group PLC now owns 153,122 shares of the financial services provider’s stock valued at $9,617,000 after acquiring an additional 13,175 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of St. Joe by 24.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 847 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 168 shares during the last quarter. Emmett Investment Management LP bought a new stake in shares of St. Joe in the 1st quarter valued at about $1,713,000. Empowered Funds LLC increased its stake in shares of St. Joe by 197.6% in the 1st quarter. Empowered Funds LLC now owns 4,139 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 2,748 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of St. Joe by 35.6% in the 1st quarter. Quantinno Capital Management LP now owns 15,554 shares of the financial services provider’s stock valued at $977,000 after acquiring an additional 4,085 shares during the last quarter. 86.67% of the stock is owned by 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.