St. Joe (NYSE:JOE) Major Shareholder Sells $1,308,060.00 in Stock

Key Points

• Bruce Berkowitz, a major shareholder of St. Joe Company, sold 26,000 shares for approximately $1.31 million, resulting in a slight decrease of 0.16% in his ownership.
• St. Joe announced a quarterly dividend of $0.14 per share, with an ex-dividend date of August 22, representing an annual yield of 1.1%.
• Recent hedge fund activity showed significant increases in positions, with EverSource Wealth Advisors raising their stake by 155.7% during the 2nd quarter.

St. Joe Company (The) (NYSE:JOE - Get Free Report) major shareholder Bruce R. Berkowitz sold 26,000 shares of St. Joe stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $50.31, for a total transaction of $1,308,060.00. Following the completion of the transaction, the insider owned 16,564,024 shares of the company's stock, valued at $833,336,047.44. The trade was a 0.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

St. Joe Stock Performance

Shares of JOE traded up $2.0750 during trading hours on Friday, hitting $50.9450. The company's stock had a trading volume of 414,508 shares, compared to its average volume of 251,904. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 35.83 and a beta of 1.37. 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 business has a 50 day simple moving average of $49.55 and a two-hundred day simple moving average of $46.68. St. Joe Company has a 52-week low of $40.19 and a 52-week 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 earnings per share for the quarter. St. Joe had a net margin of 19.39% and a return on equity of 11.19%. The firm had revenue of $129.10 million during the quarter.

St. Joe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis 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%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in St. Joe by 155.7% in the second quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider's stock worth $31,000 after buying an additional 397 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in St. Joe by 2,265.5% in the second quarter. Parkside Financial Bank & Trust now owns 686 shares of the financial services provider's stock worth $33,000 after buying an additional 657 shares during the last quarter. Lazard Asset Management LLC bought a new stake in St. Joe in the fourth quarter worth $38,000. Smartleaf Asset Management LLC lifted its position in St. Joe by 31.8% in the second quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider's stock worth $48,000 after buying an additional 236 shares during the last quarter. Finally, MAI Capital Management lifted its position in St. Joe by 120.8% in the first quarter. MAI Capital Management now owns 1,104 shares of the financial services provider's stock worth $52,000 after buying an additional 604 shares during the last quarter. 86.67% of the stock is currently owned by institutional investors.

St. Joe Company Profile

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.