St. Joe (NYSE:JOE) Major Shareholder Sells 29,000 Shares

Key Points

• Bruce Berkowitz, a major shareholder of St. Joe Company, sold 29,000 shares at an average price of $50.17, totaling approximately $1.45 million, which decreases his stake by 0.18%.
• The company recently announced a quarterly dividend of $0.14 per share, with the dividend yield currently at 1.1%.
• St. Joe's stock has seen a 0.7% increase in value, reaching approximately $49.92 during trading, with the stock's market capitalization at $2.89 billion.

St. Joe Company (The) (NYSE:JOE - Get Free Report) major shareholder Bruce R. Berkowitz sold 29,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $50.17, for a total transaction of $1,454,930.00. Following the transaction, the insider directly owned 16,535,024 shares of the company's stock, valued at $829,562,154.08. This represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

St. Joe Stock Up 4.7%

Shares of JOE stock traded up $2.2970 during trading on Friday, reaching $51.3070. The company's stock had a trading volume of 591,541 shares, compared to its average volume of 214,070. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 36.13 and a beta of 1.37. St. Joe Company has a one year low of $40.19 and a one year high of $62.49. The business has a fifty day moving average price of $49.65 and a 200-day moving average price of $46.70. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.81.

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

St. Joe Announces Dividend

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On St. Joe

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position in St. Joe by 155.7% in the second quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 397 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in St. Joe by 2,265.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 686 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 657 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in St. Joe in the fourth quarter valued at approximately $38,000. Smartleaf Asset Management LLC grew its stake in shares of St. Joe by 31.8% during the second quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider's stock worth $48,000 after buying an additional 236 shares during the last quarter. Finally, MAI Capital Management increased its holdings in shares of St. Joe by 120.8% during the first quarter. MAI Capital Management now owns 1,104 shares of the financial services provider's stock worth $52,000 after buying an additional 604 shares in the last quarter. Institutional investors and hedge funds own 86.67% of the company's stock.

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.