Insider Selling: St. Joe (NYSE:JOE) Major Shareholder Sells $1,901,796.00 in Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 29,200 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $65.13, for a total transaction of $1,901,796.00. Following the completion of the sale, the insider owned 15,398,724 shares of the company’s stock, valued at $1,002,918,894.12. This trade represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 Trading Up 0.1%

Shares of NYSE:JOE opened at $65.03 on Friday. St. Joe Company has a 52-week low of $45.75 and a 52-week high of $73.54. The company has a market capitalization of $3.73 billion, a P/E ratio of 33.52 and a beta of 1.28. The company has a 50-day simple moving average of $65.80 and a 200 day simple moving average of $65.22. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.36 and a current ratio of 2.36.

St. Joe (NYSE:JOE) last issued 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 during the quarter.

St. Joe Announces Dividend

The company 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. This represents a $0.64 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, June 9th. St. Joe’s dividend payout ratio (DPR) is 32.99%.

Institutional Investors Weigh In On St. Joe

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its position in shares of St. Joe by 138.2% in the fourth quarter. SG Americas Securities LLC now owns 38,860 shares of the financial services provider’s stock valued at $2,307,000 after buying an additional 22,547 shares in the last quarter. Elo Mutual Pension Insurance Co acquired a new stake in shares of St. Joe in the third quarter valued at approximately $947,000. Horizon Investments LLC acquired a new stake in shares of St. Joe in the fourth quarter valued at approximately $1,653,000. Vanguard Group Inc. raised its position in shares of St. Joe by 3.1% in the third quarter. Vanguard Group Inc. now owns 5,959,298 shares of the financial services provider’s stock valued at $294,866,000 after buying an additional 179,877 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of St. Joe by 54.7% in the third quarter. Victory Capital Management Inc. now owns 407,438 shares of the financial services provider’s stock valued at $20,160,000 after buying an additional 144,121 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on JOE. Wall Street Zen downgraded shares of St. Joe from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings downgraded shares of St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

St. Joe Company Profile

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.