St. Joe (NYSE:JOE) Major Shareholder Bruce Berkowitz Sells 33,600 Shares

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 33,600 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $65.18, for a total transaction of $2,190,048.00. Following the transaction, the insider owned 15,487,424 shares of the company’s stock, valued at $1,009,470,296.32. This represents a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Trading Down 0.2%

Shares of NYSE:JOE opened at $64.75 on Tuesday. The company has a market cap of $3.72 billion, a PE ratio of 33.38 and a beta of 1.28. The company’s 50-day moving average price is $65.63 and its 200 day moving average price is $65.03. St. Joe Company has a fifty-two week low of $45.75 and a fifty-two week high of $73.54. 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 (NYSE:JOE) last posted its 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 Dividend Announcement

The firm also recently disclosed 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 is Tuesday, June 9th. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. St. Joe’s payout ratio is currently 32.99%.

Institutional Trading of St. Joe

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC lifted its position 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 valued at $2,307,000 after acquiring an additional 22,547 shares during the last quarter. Elo Mutual Pension Insurance Co acquired a new position in shares of St. Joe in the 3rd quarter worth $947,000. Horizon Investments LLC acquired a new position in shares of St. Joe in the 4th quarter worth $1,653,000. Vanguard Group Inc. raised its position in shares of St. Joe by 3.1% during the third quarter. Vanguard Group Inc. now owns 5,959,298 shares of the financial services provider’s stock worth $294,866,000 after purchasing an additional 179,877 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of St. Joe by 54.7% during 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 period. Institutional investors and hedge funds own 86.67% of the company’s stock.

Analyst Upgrades and Downgrades

JOE has been the topic of several analyst reports. Wall Street Zen cut St. Joe from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings cut St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, St. Joe currently 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.