Bruce Berkowitz Sells 25,000 Shares of St. Joe (NYSE:JOE) Stock

Key Points

• Bruce Berkowitz sold 25,000 shares of St. Joe on May 7 at an average price of $65.33, raising about $1.63 million and reducing his stake to 15,695,824 shares (a 0.16% decrease); the sale was disclosed in an SEC filing.
• St. Joe shares traded down ~1.0% to $65.05 (12‑month range: $42.65–$73.54) and the company has a market cap of about $3.73 billion; it announced a quarterly dividend of $0.16 (annualized $0.64, ~1.0% yield) with an ex-dividend date of June 9 and payment on June 25.
• Analyst coverage is mixed after a recent downgrade from "buy" to "hold" by Wall Street Zen, though the stock still carries a consensus rating of Buy per MarketBeat data.

St. Joe Company (The) (NYSE:JOE - Get Free Report) major shareholder Bruce Berkowitz sold 25,000 shares of the company's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $65.33, for a total value of $1,633,250.00. Following the sale, the insider directly owned 15,695,824 shares in the company, valued at $1,025,408,181.92. This represents a 0.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

St. Joe Stock Down 1.0%

NYSE:JOE traded down $0.65 during midday trading on Thursday, reaching $65.05. The company had a trading volume of 277,887 shares, compared to its average volume of 269,816. St. Joe Company has a 12-month low of $42.65 and a 12-month high of $73.54. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 33.53 and a beta of 1.31. 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's fifty day simple moving average is $67.55 and its 200-day simple moving average is $63.64.

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

St. Joe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 9th. St. Joe's dividend payout ratio (DPR) is presently 32.99%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On St. Joe

Institutional investors have recently added to or reduced their stakes in the business. Nitor Capital Management LLC purchased a new position in St. Joe in the fourth quarter valued at approximately $31,789,000. Vanguard Group Inc. lifted its position in shares of St. Joe by 3.1% during the 3rd 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. Victory Capital Management Inc. lifted its position in shares of St. Joe by 54.7% during the 3rd quarter. Victory Capital Management Inc. now owns 407,438 shares of the financial services provider's stock worth $20,160,000 after buying an additional 144,121 shares during the last quarter. Select Equity Group L.P. acquired a new position in shares of St. Joe in the 2nd quarter valued at $6,347,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of St. Joe by 668.3% in the 4th quarter. Janus Henderson Group PLC now owns 139,947 shares of the financial services provider's stock valued at $8,310,000 after buying an additional 121,733 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.

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