Insider Selling: St. Joe (NYSE:JOE) Major Shareholder Sells 104,100 Shares of Stock

Key Points

• Major shareholder Bruce Berkowitz sold 104,100 shares of St. Joe Company (NYSE: JOE) for approximately $5.3 million, reducing his ownership by 0.63% to around 16.3 million shares.
• The company's stock has a market cap of $2.94 billion and has decreased by 3.4% in recent trading, with current shares valued at $50.84.
• St. Joe recently declared a quarterly dividend of $0.14 per share, representing a 1.1% dividend yield on an annualized basis.

St. Joe Company (The) (NYSE:JOE - Get Free Report) major shareholder Bruce R. Berkowitz sold 104,100 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $51.08, for a total value of $5,317,428.00. Following the transaction, the insider owned 16,324,624 shares of the company's stock, valued at $833,861,793.92. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

St. Joe Price Performance

Shares of St. Joe stock traded down $0.76 during midday trading on Friday, hitting $51.84. 144,234 shares of the company were exchanged, compared to its average volume of 220,972. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market cap of $3.00 billion, a P/E ratio of 36.51 and a beta of 1.35. St. Joe Company has a 52 week low of $40.19 and a 52 week high of $62.49. The firm has a 50 day simple moving average of $50.53 and a 200-day simple moving average of $47.09.

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 business had revenue of $129.10 million during the quarter. St. Joe had a return on equity of 11.19% and a net margin of 19.39%.

St. Joe Dividend Announcement

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 given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 22nd. St. Joe's dividend payout ratio (DPR) 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

A number of large investors have recently modified their holdings of the stock. Northern Trust Corp increased its holdings in shares of St. Joe by 7.4% in the fourth quarter. Northern Trust Corp now owns 434,283 shares of the financial services provider's stock valued at $19,512,000 after purchasing an additional 29,918 shares in the last quarter. Bank of America Corp DE boosted its position in St. Joe by 23.5% in the 4th quarter. Bank of America Corp DE now owns 180,541 shares of the financial services provider's stock valued at $8,112,000 after buying an additional 34,382 shares during the last quarter. Brevan Howard Capital Management LP increased its stake in shares of St. Joe by 49.8% in the 4th quarter. Brevan Howard Capital Management LP now owns 5,199 shares of the financial services provider's stock valued at $234,000 after buying an additional 1,728 shares during the period. Centiva Capital LP bought a new stake in shares of St. Joe during the fourth quarter worth $320,000. Finally, Deutsche Bank AG raised its position in shares of St. Joe by 215.7% during the fourth quarter. Deutsche Bank AG now owns 69,311 shares of the financial services provider's stock worth $3,114,000 after acquiring an additional 47,354 shares during the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

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.