Insider Selling: St. Joe (NYSE:JOE) Major Shareholder Sells $1,633,250.00 in Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 25,000 shares of St. Joe stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $65.33, for a total value of $1,633,250.00. Following the transaction, the insider directly owned 15,695,824 shares in the company, valued at approximately $1,025,408,181.92. The trade was a 0.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

St. Joe Trading Up 1.5%

St. Joe stock opened at $66.00 on Friday. 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 $3.79 billion, a price-to-earnings ratio of 34.02 and a beta of 1.31. The firm has a 50 day moving average of $67.55 and a 200 day moving average of $63.64. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.72.

St. Joe (NYSE:JOE) 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 net margin of 21.61% and a return on equity of 14.59%. The business had revenue of $99.04 million for the quarter.

St. Joe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Tuesday, June 9th will be issued a dividend of $0.16 per share. 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 payout ratio is currently 32.99%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Blackhawk Capital Partners LLC purchased a new position in St. Joe in the 3rd quarter worth approximately $1,535,000. SG Americas Securities LLC lifted its holdings in St. Joe by 138.2% in the 4th quarter. SG Americas Securities LLC now owns 38,860 shares of the financial services provider’s stock worth $2,307,000 after purchasing an additional 22,547 shares in the last quarter. Elo Mutual Pension Insurance Co purchased a new position in St. Joe in the 3rd quarter worth approximately $947,000. Vanguard Group Inc. lifted its holdings in St. Joe by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,959,298 shares of the financial services provider’s stock worth $294,866,000 after purchasing an additional 179,877 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in St. Joe by 54.7% in the 3rd quarter. Victory Capital Management Inc. now owns 407,438 shares of the financial services provider’s stock worth $20,160,000 after purchasing an additional 144,121 shares in the last quarter. 86.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of 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 Buy rating, According to MarketBeat, the company 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.