Insider Selling: St. Joe (NYSE:JOE) Major Shareholder Sells $1,365,150.00 in Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 19,000 shares of St. Joe stock in a transaction on Friday, February 27th. The shares were sold at an average price of $71.85, for a total value of $1,365,150.00. Following the sale, the insider directly owned 16,116,124 shares of the company’s stock, valued at approximately $1,157,943,509.40. This trade represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

St. Joe Price Performance

JOE opened at $69.95 on Friday. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 34.98 and a beta of 1.30. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.73. St. Joe Company has a 12-month low of $40.19 and a 12-month high of $73.54. The business’s fifty day simple moving average is $66.33 and its 200-day simple moving average is $58.31.

St. Joe (NYSE:JOE) last released its quarterly earnings data on Wednesday, February 25th. The financial services provider reported $0.52 earnings per share for the quarter. St. Joe had a net margin of 22.52% and a return on equity of 15.23%. The company had revenue of $128.89 million during the quarter.

St. Joe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Monday, March 9th will be paid a dividend of $0.16 per share. The ex-dividend date is Monday, March 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. St. Joe’s dividend payout ratio (DPR) is currently 32.00%.

Hedge Funds Weigh In On St. Joe

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in shares of St. Joe by 39.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 679 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 193 shares during the last quarter. HRT Financial LP increased its stake in St. Joe by 0.7% during the 2nd quarter. HRT Financial LP now owns 32,349 shares of the financial services provider’s stock valued at $1,543,000 after purchasing an additional 213 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of St. Joe by 3.0% in the fourth quarter. ProShare Advisors LLC now owns 7,428 shares of the financial services provider’s stock worth $441,000 after buying an additional 218 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of 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 buying an additional 236 shares during the period. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of 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 valued at $186,000 after buying an additional 237 shares during the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on JOE. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of St. Joe in a research report on Monday, December 29th. Wall Street Zen cut St. Joe from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus 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.