Insider Selling: St. Joe Company (The) (NYSE:JOE) Major Shareholder Sells 139,100 Shares of Stock

Key Points

• Major shareholder Bruce R. Berkowitz sold 139,100 shares of St. Joe Company stock at an average price of $50.57, amounting to a total value of $7,034,287.
• The company announced a quarterly dividend of $0.14 per share, with an ex-dividend date of August 22nd and a dividend yield of 1.1%.
• St. Joe's stock was recently downgraded by analysts from a "buy" rating to a "hold" rating, reflecting concerns about its future performance.

St. Joe Company (The) (NYSE:JOE - Get Free Report) major shareholder Bruce R. Berkowitz sold 139,100 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $50.57, for a total transaction of $7,034,287.00. Following the transaction, the insider directly owned 16,801,524 shares in the company, valued at approximately $849,653,068.68. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

St. Joe Trading Up 1.1%

Shares of St. Joe stock traded up $0.54 during mid-day trading on Tuesday, hitting $50.13. The stock had a trading volume of 44,030 shares, compared to its average volume of 250,915. The firm has a 50-day moving average of $49.42 and a two-hundred day moving average of $46.63. The firm has a market cap of $2.90 billion, a P/E ratio of 35.33 and a beta of 1.37. 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 Company has a 12-month low of $40.19 and a 12-month high of $62.49.

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

St. Joe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be paid 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 payout ratio is presently 39.44%.

Institutional Investors Weigh In On St. Joe

Several large investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in St. Joe by 0.7% during the 2nd quarter. State Street Corp now owns 1,396,004 shares of the financial services provider's stock worth $66,589,000 after acquiring an additional 9,301 shares in the last quarter. Geode Capital Management LLC lifted its stake in St. Joe by 2.5% in the second quarter. Geode Capital Management LLC now owns 957,098 shares of the financial services provider's stock valued at $45,658,000 after buying an additional 23,320 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted its holdings in shares of St. Joe by 1.0% in the second quarter. Horizon Kinetics Asset Management LLC now owns 555,891 shares of the financial services provider's stock valued at $26,516,000 after acquiring an additional 5,552 shares during the period. Northern Trust Corp grew its position in shares of St. Joe by 7.4% during the fourth quarter. Northern Trust Corp now owns 434,283 shares of the financial services provider's stock worth $19,512,000 after acquiring an additional 29,918 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of St. Joe by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 371,097 shares of the financial services provider's stock valued at $17,423,000 after acquiring an additional 6,538 shares during the period. Hedge funds and other institutional investors own 86.67% of the company's stock.

Analyst Ratings Changes

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

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.