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 business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $51.08, for a total transaction of $5,317,428.00. Following the completion of the transaction, the insider owned 16,324,624 shares in the company, valued at $833,861,793.92. This represents a 0.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

St. Joe Stock Down 1.4%

JOE stock traded down $0.76 during trading on Friday, reaching $51.84. The stock had a trading volume of 144,234 shares, compared to its average volume of 220,972. St. Joe Company has a 1-year low of $40.19 and a 1-year high of $62.49. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $3.00 billion, a P/E ratio of 36.51 and a beta of 1.35. The firm has a fifty day moving average price of $50.53 and a 200 day moving average price of $47.09.

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 company 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, August 22nd. St. Joe's dividend payout ratio is 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 research note on Sunday, June 8th.

Institutional Investors Weigh In On St. Joe

Several institutional investors and hedge funds have recently bought and sold shares of the business. HRT Financial LP raised its stake in St. Joe by 0.7% during the second quarter. HRT Financial LP now owns 32,349 shares of the financial services provider's stock worth $1,543,000 after acquiring an additional 213 shares during the period. GAMMA Investing LLC raised its stake in St. Joe by 21.1% during the second quarter. GAMMA Investing LLC now owns 1,295 shares of the financial services provider's stock worth $62,000 after acquiring an additional 226 shares during the period. Smartleaf Asset Management LLC raised its stake in 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 acquiring an additional 236 shares during the period. Ameritas Investment Partners Inc. raised its stake in St. Joe by 6.5% during the second quarter. Ameritas Investment Partners Inc. now owns 3,890 shares of the financial services provider's stock worth $186,000 after acquiring an additional 237 shares during the period. Finally, Creative Planning raised its stake in St. Joe by 4.1% during the second quarter. Creative Planning now owns 9,872 shares of the financial services provider's stock worth $471,000 after acquiring an additional 391 shares during the period. Institutional investors and hedge funds own 86.67% of the company's stock.

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.