Bruce Berkowitz Sells 29,000 Shares of St. Joe (NYSE:JOE) Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 29,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $65.12, for a total transaction of $1,888,480.00. Following the transaction, the insider owned 15,458,424 shares of the company’s stock, valued at approximately $1,006,652,570.88. This represents a 0.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

St. Joe Trading Down 0.2%

NYSE JOE traded down $0.12 during trading on Monday, reaching $64.75. 186,620 shares of the stock traded hands, compared to its average volume of 223,422. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 33.38 and a beta of 1.28. The stock’s 50-day moving average price is $65.54 and its 200 day moving average price is $64.98. 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 fifty-two week low of $45.75 and a fifty-two week high of $73.54.

St. Joe (NYSE:JOE) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. The firm had revenue of $99.04 million during 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. Stockholders of record on Tuesday, June 9th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 9th. St. Joe’s dividend payout ratio is 32.99%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Camelot Portfolios LLC acquired a new position in St. Joe during the fourth quarter worth $30,000. EverSource Wealth Advisors LLC boosted its holdings in St. Joe by 155.7% during the second quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 397 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in St. Joe during the fourth quarter worth $32,000. Quarry LP acquired a new position in St. Joe during the third quarter worth $39,000. Finally, Smartleaf Asset Management LLC boosted its holdings in St. Joe by 31.8% during the second quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

Wall Street Analysts Forecast Growth

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