St. Joe (NYSE:JOE) Major Shareholder Bruce R. Berkowitz Sells 25,300 Shares

Key Points

• Major shareholder Bruce Berkowitz sold 25,300 shares of St. Joe Company stock at an average price of $51.00, totaling approximately $1.29 million, reducing his position by 0.15%.
• The company reported a quarterly earnings of $0.51 EPS and a revenue of $129.10 million with a net margin of 19.39%.
• St. Joe recently declared a quarterly dividend of $0.14 per share, resulting in an annualized dividend yield of 1.1%, with a payout ratio of 39.44%.

St. Joe Company (The) (NYSE:JOE - Get Free Report) major shareholder Bruce R. Berkowitz sold 25,300 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $51.00, for a total value of $1,290,300.00. Following the transaction, the insider directly owned 16,428,724 shares in the company, valued at $837,864,924. The trade was a 0.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

St. Joe Stock Up 1.9%

Shares of NYSE:JOE traded up $0.95 during trading on Friday, reaching $51.13. 332,383 shares of the stock were exchanged, compared to its average volume of 223,073. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.45 and a quick ratio of 1.45. St. Joe Company has a 1-year low of $40.19 and a 1-year high of $62.49. The stock has a fifty day moving average of $50.24 and a two-hundred day moving average of $46.92. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 36.01 and a beta of 1.35.

St. Joe (NYSE:JOE - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $0.51 earnings per share for the quarter. St. Joe had a return on equity of 11.19% and a net margin of 19.39%.The company had revenue of $129.10 million for the quarter.

St. Joe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 22nd. St. Joe's dividend payout ratio is presently 39.44%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered St. Joe from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th.

Institutional Investors Weigh In On St. Joe

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. HRT Financial LP raised its position in St. Joe by 0.7% in the 2nd quarter. HRT Financial LP now owns 32,349 shares of the financial services provider's stock valued at $1,543,000 after buying an additional 213 shares during the last quarter. GAMMA Investing LLC raised its position in St. Joe by 21.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,295 shares of the financial services provider's stock valued at $62,000 after buying an additional 226 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of St. Joe by 31.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 236 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of St. Joe by 6.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,890 shares of the financial services provider's stock worth $186,000 after purchasing an additional 237 shares during the period. Finally, Creative Planning raised its stake in shares of St. Joe by 4.1% during the 2nd quarter. Creative Planning now owns 9,872 shares of the financial services provider's stock worth $471,000 after purchasing an additional 391 shares during the period. 86.67% of the stock is owned by hedge funds and other institutional investors.

St. Joe Company Profile

The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Northwest Florida. It operates through three segments: Residential, Hospitality, and Commercial. The Residential segment engages in the development of communities into homesites for sale to homebuilders and on a limited basis to retail customers.