Insider Selling: St. Joe (NYSE:JOE) Major Shareholder Sells 29,200 Shares of Stock

Key Points

• Major shareholder Bruce Berkowitz sold 29,200 shares of St. Joe on June 10 at an average price of $65.13, totaling about $1.9 million. After the sale, he still held about 15.4 million shares valued at just over $1.0 billion.
• St. Joe shares were trading slightly higher on Thursday, up 0.4% to $64.83, with the stock sitting near its 50-day and 200-day moving averages. The company has a market cap of about $3.72 billion and a 12-month trading range of $45.75 to $73.54.
• The company recently paid and announced a quarterly dividend of $0.16 per share, equal to a 1.0% annualized yield. St. Joe also reported quarterly EPS of $0.24 and revenue of $99.04 million in its latest earnings release.

St. Joe Company (The) (NYSE:JOE - Get Free Report) major shareholder Bruce Berkowitz sold 29,200 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $65.13, for a total transaction of $1,901,796.00. Following the completion of the transaction, the insider directly owned 15,398,724 shares in the company, valued at $1,002,918,894.12. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

St. Joe Trading Up 0.4%

Shares of St. Joe stock traded up $0.26 during mid-day trading on Thursday, hitting $64.83. The stock had a trading volume of 191,075 shares, compared to its average volume of 222,591. St. Joe Company has a 12-month low of $45.75 and a 12-month high of $73.54. The firm has a market cap of $3.72 billion, a P/E ratio of 33.42 and a beta of 1.28. The firm has a 50-day moving average of $65.75 and a two-hundred day moving average of $65.17. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.72.

St. Joe (NYSE:JOE - Get Free Report) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. St. Joe had a return on equity of 14.59% and a net margin of 21.61%.The company had revenue of $99.04 million during the quarter.

St. Joe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 9th. St. Joe's dividend payout ratio is currently 32.99%.

Institutional Investors Weigh In On St. Joe

A number of institutional investors and hedge funds have recently made changes to their positions in JOE. SG Americas Securities LLC increased its stake in shares of St. Joe by 138.2% during the fourth quarter. SG Americas Securities LLC now owns 38,860 shares of the financial services provider's stock worth $2,307,000 after acquiring an additional 22,547 shares during the period. Elo Mutual Pension Insurance Co acquired a new stake in shares of St. Joe in the 3rd quarter worth approximately $947,000. Horizon Investments LLC acquired a new stake in shares of St. Joe in the 4th quarter worth approximately $1,653,000. Vanguard Group Inc. grew its holdings in shares of St. Joe by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,959,298 shares of the financial services provider's stock worth $294,866,000 after acquiring an additional 179,877 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of St. Joe by 54.7% in the third quarter. Victory Capital Management Inc. now owns 407,438 shares of the financial services provider's stock valued at $20,160,000 after purchasing an additional 144,121 shares in the last quarter. 86.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JOE has been the subject of several research reports. Weiss Ratings downgraded shares of St. Joe from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, May 22nd. Wall Street Zen downgraded shares of St. Joe from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".

St. Joe News Roundup

Here are the key news stories impacting St. Joe this week:

• Negative Sentiment: Bruce Berkowitz, a notable St. Joe shareholder, reported selling additional shares of St. Joe Company NYSE: JOE. Insider/investor selling can pressure sentiment because it may signal reduced conviction or lead traders to anticipate more supply in the stock. Bruce Berkowitz Sells 59,100 Shares of St. Joe NYSE: JOE Stock
• Negative Sentiment: Additional reports said Berkowitz sold more shares of St. Joe Company NYSE: JOE, reinforcing the same overhang from recent selling activity. Bruce Berkowitz Sells 33,600 Shares of St. Joe NYSE: JOE Stock
• Negative Sentiment: A third filing/article noted Berkowitz sold more St. Joe Company NYSE: JOE shares, adding to investor concern about ongoing share distribution. Bruce Berkowitz Sells 29,000 Shares of St. Joe NYSE: JOE Stock
• Neutral Sentiment: Several headlines about “St. Joe” were actually about schools and athletics, including a baseball program review and a softball title game; these appear unrelated to St. Joe Company NYSE: JOE and are unlikely to affect the stock. St. Joe’s baseball program under review

St. Joe Company Profile

The St. Joe Company NYSE: JOE is a leading real estate development and asset management firm focused on Northwest Florida. Headquartered in Jacksonville, the company owns and manages approximately 171,000 acres of land across Bay, Gulf, Franklin and Walton counties. St. Joe's core businesses include residential community development, commercial real estate, and hospitality, with an emphasis on master-planned neighborhoods, office and retail campuses, resort hotels and mixed-use town centers.

Founded in 1936 as a paper manufacturing company, St.

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