Insider Selling: St. Joe (NYSE:JOE) Major Shareholder Sells 29,200 Shares of Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 29,200 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $65.49, for a total value of $1,912,308.00. Following the sale, the insider directly owned 15,580,124 shares of the company’s stock, valued at $1,020,342,320.76. The trade was a 0.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

St. Joe Stock Performance

Shares of NYSE:JOE traded down $0.87 during trading on Tuesday, reaching $64.24. The stock had a trading volume of 183,322 shares, compared to its average volume of 231,837. The stock has a fifty day simple moving average of $67.41 and a two-hundred day simple moving average of $63.87. 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 Company has a 52 week low of $42.65 and a 52 week high of $73.54. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 33.11 and a beta of 1.31.

St. Joe (NYSE:JOE) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share (EPS) 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 Dividend Announcement

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 dividend of $0.16 per share. The ex-dividend date is Tuesday, June 9th. This represents a $0.64 annualized dividend and a yield of 1.0%. St. Joe’s dividend payout ratio is presently 32.99%.

Hedge Funds Weigh In On St. Joe

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of St. Joe by 4.9% during the 1st quarter. Royal Bank of Canada now owns 29,915 shares of the financial services provider’s stock worth $1,404,000 after purchasing an additional 1,384 shares in the last quarter. AQR Capital Management LLC lifted its position in St. Joe by 152.4% in the first quarter. AQR Capital Management LLC now owns 76,084 shares of the financial services provider’s stock worth $3,572,000 after purchasing an additional 45,939 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in St. Joe by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,459 shares of the financial services provider’s stock worth $1,008,000 after buying an additional 951 shares in 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 valued at $4,113,000 after buying an additional 19,879 shares during the period. Finally, Intech Investment Management LLC increased 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 valued at $1,231,000 after buying an additional 8,235 shares during the period. Institutional investors and hedge funds own 86.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JOE. Weiss Ratings reiterated a “buy (b-)” rating on shares of St. Joe in a report on Friday. Wall Street Zen lowered shares of St. Joe from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus 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.