St. Joe (NYSE:JOE) Major Shareholder Bruce Berkowitz Sells 140,400 Shares of Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 140,400 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $65.71, for a total value of $9,225,684.00. Following the completion of the sale, the insider owned 15,073,624 shares of the company’s stock, valued at approximately $990,487,833.04. The trade was a 0.92% decrease in their ownership of the stock. 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 stock are required to disclose their transactions with the SEC.

St. Joe Stock Up 1.6%

Shares of JOE opened at $66.37 on Wednesday. St. Joe Company has a 52-week low of $46.37 and a 52-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. The stock has a fifty day simple moving average of $65.67 and a two-hundred day simple moving average of $65.47. The company has a market capitalization of $3.81 billion, a PE ratio of 34.21 and a beta of 1.28.

St. Joe (NYSE:JOE) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share 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 for the quarter.

St. Joe Dividend Announcement

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

Analyst Ratings Changes

JOE has been the subject of a number of recent analyst reports. Weiss Ratings downgraded 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 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 Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Institutional Trading of St. Joe

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nitor Capital Management LLC acquired a new stake in shares of St. Joe in the 4th quarter valued at about $31,789,000. Vanguard Group Inc. increased its holdings in shares of St. Joe by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,959,298 shares of the financial services provider’s stock valued at $294,866,000 after acquiring an additional 179,877 shares during the period. Victory Capital Management Inc. raised its position in St. Joe by 54.7% in the 3rd quarter. Victory Capital Management Inc. now owns 407,438 shares of the financial services provider’s stock valued at $20,160,000 after purchasing an additional 144,121 shares during the last quarter. Select Equity Group L.P. purchased a new stake in St. Joe in the 2nd quarter valued at $6,347,000. Finally, Janus Henderson Group PLC boosted its stake in St. Joe by 668.3% during the 4th quarter. Janus Henderson Group PLC now owns 139,947 shares of the financial services provider’s stock worth $8,310,000 after purchasing an additional 121,733 shares during the period. 86.67% of the stock is currently owned by hedge funds and other 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.