St. Joe (NYSE:JOE) Major Shareholder Bruce Berkowitz Sells 189,200 Shares of Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 189,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $65.78, for a total value of $12,445,576.00. Following the sale, the insider directly owned 15,884,424 shares of the company’s stock, valued at $1,044,877,410.72. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

St. Joe Price Performance

JOE opened at $65.05 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.36 and a quick ratio of 2.36. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 33.53 and a beta of 1.31. St. Joe Company has a 1 year low of $42.65 and a 1 year high of $73.54. The firm’s fifty day moving average price is $67.55 and its two-hundred day moving average price is $63.64.

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

St. Joe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.16 per share. 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 32.99%.

Institutional Investors Weigh In On St. Joe

Hedge funds have recently bought and sold shares of the stock. Nitor Capital Management LLC bought a new stake in shares of St. Joe during the 4th quarter worth $31,789,000. Vanguard Group Inc. boosted its stake 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 purchasing an additional 179,877 shares in the last quarter. Victory Capital Management Inc. grew its stake 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 valued at $20,160,000 after buying an additional 144,121 shares during the last quarter. Select Equity Group L.P. bought a new position in St. Joe during the 2nd quarter worth approximately $6,347,000. Finally, Janus Henderson Group PLC lifted its position in St. Joe by 668.3% in the fourth quarter. Janus Henderson Group PLC now owns 139,947 shares of the financial services provider’s stock valued at $8,310,000 after purchasing an additional 121,733 shares during the last quarter. 86.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered 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 Buy rating, Based on data from MarketBeat.com, St. Joe currently has an average rating of “Buy”.

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.