St. Joe (NYSE:JOE) Major Shareholder Bruce Berkowitz Sells 63,800 Shares

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 63,800 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $65.25, for a total value of $4,162,950.00. Following the completion of the transaction, the insider directly owned 15,334,924 shares of the company’s stock, valued at approximately $1,000,603,791. The trade was a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

St. Joe Trading Down 0.8%

Shares of JOE opened at $64.55 on Wednesday. St. Joe Company has a 1 year low of $45.83 and a 1 year 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 stock has a 50 day simple moving average of $65.79 and a 200-day simple moving average of $65.32. The stock has a market cap of $3.71 billion, a PE ratio of 33.27 and a beta of 1.28.

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

St. Joe Announces Dividend

The firm also recently declared 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 of this dividend is Tuesday, June 9th. St. Joe’s dividend payout ratio (DPR) is currently 32.99%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on JOE. Weiss Ratings cut 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 analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On St. Joe

Several hedge funds and other institutional investors have recently made changes to their positions in JOE. Royal Bank of Canada increased its stake in shares of St. Joe by 4.9% in the 1st quarter. Royal Bank of Canada now owns 29,915 shares of the financial services provider’s stock valued at $1,404,000 after buying an additional 1,384 shares during the period. AQR Capital Management LLC increased its stake in shares of St. Joe by 152.4% in the 1st quarter. AQR Capital Management LLC now owns 76,084 shares of the financial services provider’s stock valued at $3,572,000 after buying an additional 45,939 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of St. Joe by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,459 shares of the financial services provider’s stock valued at $1,008,000 after buying an additional 951 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of St. Joe by 29.4% in the 1st 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 buying an additional 19,879 shares during the period. Finally, Intech Investment Management LLC increased its stake in shares of St. Joe by 45.8% in the 1st quarter. Intech Investment Management LLC now owns 26,218 shares of the financial services provider’s stock valued at $1,231,000 after buying an additional 8,235 shares during the period. 86.67% of the stock is owned by institutional investors and hedge funds.

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.