St. Joe (NYSE:JOE) Major Shareholder Sells $1,454,930.00 in Stock

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 company's stock in a transaction dated Tuesday, August 19th. The shares were 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 Stock Performance

Shares of JOE traded up $2.0750 during trading hours on Friday, reaching $50.9450. 414,508 shares of the company traded hands, compared to its average volume of 251,904. The stock's fifty day moving average is $49.55 and its 200 day moving average is $46.68. The stock has a market cap of $2.95 billion, a P/E ratio of 35.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 1.45. St. Joe Company has a 1-year low of $40.19 and a 1-year high of $62.49.

St. Joe (NYSE:JOE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.51 EPS for the quarter. The firm 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 disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. St. Joe's dividend payout ratio (DPR) is presently 39.44%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On St. Joe

A number of hedge funds and other institutional investors have recently made changes to their positions in JOE. Envestnet Asset Management Inc. boosted its position in shares of St. Joe by 29.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 13,528 shares of the financial services provider's stock worth $608,000 after purchasing an additional 3,049 shares in the last quarter. Bank of Montreal Can lifted its position in St. Joe by 9.9% in the 4th quarter. Bank of Montreal Can now owns 12,879 shares of the financial services provider's stock valued at $579,000 after acquiring an additional 1,165 shares in the last quarter. Renaissance Technologies LLC lifted its position in St. Joe by 312.6% in the 4th quarter. Renaissance Technologies LLC now owns 61,900 shares of the financial services provider's stock valued at $2,781,000 after acquiring an additional 46,898 shares in the last quarter. Raymond James Financial Inc. bought a new stake in St. Joe in the 4th quarter valued at $4,657,000. Finally, Barclays PLC lifted its position in St. Joe by 3.7% in the 4th quarter. Barclays PLC now owns 67,376 shares of the financial services provider's stock valued at $3,027,000 after acquiring an additional 2,386 shares in the last quarter. 86.67% of the stock is owned by institutional investors.

About St. Joe

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.