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 the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $50.31, for a total value of $1,308,060.00. Following the sale, the insider directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

St. Joe Stock Performance

St. Joe stock traded up $2.2970 during mid-day trading on Friday, reaching $51.3070. 591,541 shares of the company's stock were exchanged, compared to its average volume of 214,070. The business's fifty day simple moving average is $49.65 and its 200 day simple moving average is $46.70. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.81. St. Joe Company has a one year low of $40.19 and a one year high of $62.49. The firm has a market capitalization of $2.97 billion, a PE ratio of 36.13 and a beta of 1.37.

St. Joe (NYSE:JOE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter. The firm 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders 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 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 downgraded 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in St. Joe by 155.7% during the second quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 397 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of 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 purchasing an additional 657 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of St. Joe in the fourth quarter valued at approximately $38,000. Smartleaf Asset Management LLC lifted its stake in shares of St. Joe by 31.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider's stock valued at $48,000 after buying an additional 236 shares in the last quarter. Finally, MAI Capital Management boosted its holdings in St. Joe by 120.8% in the 1st 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 period. 86.67% of the stock is currently owned by institutional investors.

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.