Bruce Berkowitz Sells 63,800 Shares of St. Joe (NYSE:JOE) Stock

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 transaction, the insider owned 15,334,924 shares in the company, valued at $1,000,603,791. The trade was a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

St. Joe Price Performance

St. Joe stock opened at $63.45 on Thursday. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 32.71 and a beta of 1.28. St. Joe Company has a 52-week low of $45.83 and a 52-week high of $73.54. The stock’s 50 day moving average price is $65.76 and its two-hundred day moving average price is $65.34. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.36 and a current ratio of 2.36.

St. Joe (NYSE:JOE) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share (EPS) 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 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 given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $0.64 annualized dividend and a yield of 1.0%. St. Joe’s dividend payout ratio (DPR) is presently 32.99%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On St. Joe

Several large investors have recently added to or reduced their stakes in JOE. Royal Bank of Canada increased its holdings in 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 worth $1,404,000 after acquiring an additional 1,384 shares during the last quarter. AQR Capital Management LLC increased its holdings in 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 worth $3,572,000 after acquiring an additional 45,939 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 worth $1,008,000 after acquiring an additional 951 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in 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 worth $4,113,000 after acquiring an additional 19,879 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in St. Joe by 45.8% during 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 in the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

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.