Bruce Berkowitz Sells 163,600 Shares of St. Joe (NYSE:JOE) Stock

Key Points

• Bruce Berkowitz sold 163,600 shares of St. Joe at an average price of $65.78 for about $10.76 million, trimming his stake by 1.03% to 15,720,824 shares valued at roughly $1.034 billion.
• St. Joe announced a quarterly dividend of $0.16 per share (annualized $0.64, ~1.0% yield) with an ex-dividend date and record date of June 9 and a payment on June 25.
• The stock traded down about 1% to $65.05 (market cap ~$3.73B, PE ~33.5, 12‑month range $42.65–$73.54), with institutional investors owning 86.67% of shares and Wall Street Zen recently downgrading the name from "buy" to "hold."

St. Joe Company (The) (NYSE:JOE - Get Free Report) major shareholder Bruce Berkowitz sold 163,600 shares of the company's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $65.78, for a total value of $10,761,608.00. Following the sale, the insider owned 15,720,824 shares of the company's stock, valued at approximately $1,034,115,802.72. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

St. Joe Trading Down 1.0%

St. Joe stock traded down $0.65 during midday trading on Thursday, reaching $65.05. The stock had a trading volume of 277,887 shares, compared to its average volume of 269,816. The stock's 50-day simple moving average is $67.55 and its 200 day simple moving average is $63.64. St. Joe Company has a twelve month low of $42.65 and a twelve month high of $73.54. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.36 and a current ratio of 2.36. The stock has a market capitalization of $3.73 billion, a PE ratio of 33.53 and a beta of 1.31.

St. Joe (NYSE:JOE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.24 EPS for the quarter. The company had revenue of $99.04 million during 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 announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Tuesday, June 9th will be given 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 is 32.99%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in shares of St. Joe by 4.9% in the first 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 in the last quarter. AQR Capital Management LLC lifted its position in St. Joe by 152.4% during 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in St. Joe by 4.6% during 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 period. Finally, Intech Investment Management LLC boosted its holdings in 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 worth $1,231,000 after acquiring an additional 8,235 shares during the period. Institutional investors and hedge funds own 86.67% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of St. Joe from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, St. Joe presently 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.

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