Bruce Berkowitz Sells 26,700 Shares of St. Joe (NYSE:JOE) Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 26,700 shares of St. Joe stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $65.03, for a total transaction of $1,736,301.00. Following the sale, the insider owned 15,214,024 shares in the company, valued at $989,367,980.72. This represents a 0.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Down 1.4%

JOE stock opened at $63.45 on Thursday. St. Joe Company has a twelve month low of $45.83 and a twelve month high of $73.54. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $3.64 billion, a P/E ratio of 32.71 and a beta of 1.28. The firm has a 50 day simple moving average of $65.76 and a 200-day simple moving average of $65.34.

St. Joe (NYSE:JOE) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.24 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 Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of JOE. Royal Bank of Canada raised its stake in shares of St. Joe by 4.9% in the first quarter. Royal Bank of Canada now owns 29,915 shares of the financial services provider’s stock valued at $1,404,000 after purchasing an additional 1,384 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of St. Joe by 152.4% during the first quarter. AQR Capital Management LLC now owns 76,084 shares of the financial services provider’s stock worth $3,572,000 after purchasing an additional 45,939 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of St. Joe by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,459 shares of the financial services provider’s stock worth $1,008,000 after purchasing an additional 951 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of St. Joe by 29.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,606 shares of the financial services provider’s stock valued at $4,113,000 after acquiring an additional 19,879 shares during the period. Finally, Intech Investment Management LLC lifted its stake in shares of St. Joe by 45.8% during the first quarter. Intech Investment Management LLC now owns 26,218 shares of the financial services provider’s stock valued at $1,231,000 after acquiring an additional 8,235 shares during the period. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on JOE. Wall Street Zen cut shares of St. Joe from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings lowered shares of St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

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.