St. Joe (NYSE:JOE) Major Shareholder Bruce Berkowitz Sells 86,500 Shares

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 86,500 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $66.09, for a total transaction of $5,716,785.00. Following the transaction, the insider directly owned 15,609,324 shares of the company’s stock, valued at $1,031,620,223.16. This represents a 0.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

St. Joe Stock Performance

NYSE JOE opened at $64.24 on Wednesday. The stock has a market cap of $3.69 billion, a P/E ratio of 33.11 and a beta of 1.31. The company’s 50-day simple moving average is $67.25 and its 200 day simple moving average is $63.96. St. Joe Company has a twelve month low of $42.65 and a twelve month 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.

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

St. Joe Announces Dividend

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

Analysts Set New Price Targets

A number of research firms 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 reissued a “buy (b-)” rating on shares of St. Joe in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy”.

Institutional Trading of St. Joe

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in St. Joe by 3.1% during the third quarter. Vanguard Group Inc. now owns 5,959,298 shares of the financial services provider’s stock worth $294,866,000 after buying an additional 179,877 shares during the last quarter. State Street Corp grew its stake in St. Joe by 1.5% during the fourth quarter. State Street Corp now owns 1,430,583 shares of the financial services provider’s stock worth $84,934,000 after buying an additional 21,309 shares during the last quarter. Geode Capital Management LLC grew its stake in St. Joe by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 994,963 shares of the financial services provider’s stock worth $59,081,000 after buying an additional 11,621 shares during the last quarter. Nitor Capital Management LLC bought a new stake in St. Joe during the fourth quarter worth about $31,789,000. Finally, Victory Capital Management Inc. grew its stake in St. Joe by 5.4% during the fourth quarter. Victory Capital Management Inc. now owns 429,376 shares of the financial services provider’s stock worth $25,492,000 after buying an additional 21,938 shares during the last quarter. 86.67% of the stock is owned by 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.