St. Joe (NYSE:JOE) Major Shareholder Sells $12,445,576.00 in Stock

Key Points

• Bruce Berkowitz sold 189,200 shares on May 5 at an average price of $65.78, totaling about $12.45 million, cutting his stake by 1.18% to 15,884,424 shares (≈$1.045 billion) per the SEC filing.
• Shares traded down ~1% to $65.05; St. Joe has a market cap of $3.73 billion, a P/E of 33.5, and reported quarterly EPS of $0.24 on $99.04 million in revenue with a 21.6% net margin.
• The company announced a quarterly dividend of $0.16 (annualized $0.64, ~1.0% yield) payable June 25 with record/ex-dividend on June 9, and institutional investors own about 86.7% of the shares.

St. Joe Company (The) (NYSE:JOE - Get Free Report) major shareholder Bruce Berkowitz sold 189,200 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $65.78, for a total transaction of $12,445,576.00. Following the transaction, the insider directly owned 15,884,424 shares in the company, valued at approximately $1,044,877,410.72. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

St. Joe Trading Down 1.0%

Shares of NYSE:JOE traded down $0.65 on Thursday, hitting $65.05. The company had a trading volume of 277,887 shares, compared to its average volume of 269,816. The firm's 50-day simple moving average is $67.55 and its two-hundred day simple moving average is $63.64. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 33.53 and a beta of 1.31. 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 Company has a 1 year low of $42.65 and a 1 year high of $73.54.

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

St. Joe Announces Dividend

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

Hedge Funds Weigh In On St. Joe

Several hedge funds and other institutional investors have recently bought and sold shares of JOE. Vanguard Group Inc. increased its stake 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 purchasing an additional 179,877 shares in the last quarter. State Street Corp lifted its holdings in St. Joe by 1.5% in the 4th quarter. State Street Corp now owns 1,430,583 shares of the financial services provider's stock worth $84,934,000 after purchasing an additional 21,309 shares in the last quarter. Geode Capital Management LLC lifted its holdings in St. Joe by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 994,963 shares of the financial services provider's stock worth $59,081,000 after purchasing an additional 11,621 shares in the last quarter. Nitor Capital Management LLC bought a new position in St. Joe in the 4th quarter worth approximately $31,789,000. Finally, Victory Capital Management Inc. boosted its stake in St. Joe by 5.4% in the 4th quarter. Victory Capital Management Inc. now owns 429,376 shares of the financial services provider's stock worth $25,492,000 after purchasing an additional 21,938 shares during the period. Institutional investors own 86.67% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of St. Joe from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy".

About St. Joe

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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