Insider Selling: The St. Joe Company (NYSE:JOE) Director Sells 54,000 Shares of Stock

The St. Joe Company (NYSE:JOE) Director Bruce R. Berkowitz sold 54,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $63.76, for a total transaction of $3,443,040.00. Following the transaction, the director now directly owns 18,200,624 shares of the company’s stock, valued at approximately $1,160,471,786.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

St. Joe Stock Performance

Shares of JOE traded down $0.26 during trading hours on Tuesday, reaching $62.36. 201,537 shares of the company traded hands, compared to its average volume of 179,426. The stock’s fifty day moving average is $56.36 and its 200 day moving average is $56.06. The stock has a market cap of $3.64 billion, a P/E ratio of 44.54 and a beta of 1.27. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.33 and a current ratio of 1.33. The St. Joe Company has a 1-year low of $45.93 and a 1-year high of $65.15.

St. Joe (NYSE:JOE) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.42 EPS for the quarter. The business had revenue of $111.60 million during the quarter. St. Joe had a net margin of 18.32% and a return on equity of 10.07%.

St. Joe Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.90%. This is a positive change from St. Joe’s previous quarterly dividend of $0.12. St. Joe’s dividend payout ratio is currently 34.29%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. UniSuper Management Pty Ltd bought a new stake in St. Joe in the first quarter valued at about $558,000. Louisiana State Employees Retirement System bought a new stake in St. Joe in the fourth quarter valued at about $1,071,000. Connectus Wealth LLC bought a new stake in St. Joe in the fourth quarter valued at about $2,411,000. Vanguard Group Inc. increased its stake in St. Joe by 1.0% in the first quarter. Vanguard Group Inc. now owns 5,765,278 shares of the financial services provider’s stock valued at $334,213,000 after acquiring an additional 59,563 shares during the period. Finally, M&T Bank Corp bought a new stake in St. Joe in the fourth quarter valued at about $203,000. Institutional investors and hedge funds own 86.67% of the company’s stock.

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.