Insider Selling: St. Joe (NYSE:JOE) Major Shareholder Sells $3,846,819.00 in Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 59,100 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $65.09, for a total value of $3,846,819.00. Following the completion of the sale, the insider owned 15,521,024 shares in the company, valued at $1,010,263,452.16. This trade represents a 0.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

St. Joe Stock Performance

Shares of NYSE:JOE opened at $64.73 on Thursday. The business’s fifty day moving average price is $65.75 and its two-hundred day moving average price is $65.17. St. Joe Company has a fifty-two week low of $45.75 and a fifty-two week high of $73.54. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 33.36 and a beta of 1.28. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.36 and a quick ratio of 2.36.

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

St. Joe Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have commented on JOE shares. Wall Street Zen lowered St. Joe from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings lowered St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, St. Joe presently has an average rating of “Hold”.

Key Stories Impacting St. Joe

Here are the key news stories impacting St. Joe this week:

• Negative Sentiment: Major shareholder Bruce Berkowitz sold 29,000 shares of St. Joe Company (NYSE: JOE), adding to recent selling activity and potentially signaling reduced near-term confidence from a large insider. Article Title
• Negative Sentiment: Additional reports said Berkowitz sold 33,600 shares and 59,100 shares in separate transactions, reinforcing the impression of continued insider distribution. Article Title Article Title

Hedge Funds Weigh In On St. Joe

Several large investors have recently made changes to their positions in JOE. Camelot Portfolios LLC acquired a new position in shares of St. Joe during the fourth quarter valued at $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of 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 acquiring an additional 397 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of St. Joe during the fourth quarter valued at $32,000. Quarry LP acquired a new position in shares of St. Joe during the third quarter valued at $39,000. Finally, Smartleaf Asset Management LLC increased its holdings 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 valued at $48,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

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.