St. Joe (NYSE:JOE) Major Shareholder Sells $1,888,480.00 in Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 29,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $65.12, for a total value of $1,888,480.00. Following the completion of the transaction, the insider owned 15,458,424 shares of the company’s stock, valued at approximately $1,006,652,570.88. The trade was a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

St. Joe Trading Down 1.2%

Shares of NYSE:JOE opened at $64.73 on Thursday. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 33.36 and a beta of 1.28. St. Joe Company has a 52-week low of $45.75 and a 52-week high of $73.54. The business has a 50-day moving average price of $65.75 and a 200-day moving average price of $65.17. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.72.

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

St. Joe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 9th. St. Joe’s dividend payout ratio (DPR) is 32.99%.

Key St. Joe News

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

Institutional Trading of St. Joe

Institutional investors have recently bought and sold shares of the business. Camelot Portfolios LLC acquired a new stake in St. Joe in the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC grew its holdings 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 valued at $31,000 after purchasing an additional 397 shares during the period. Kestra Advisory Services LLC acquired a new stake in St. Joe in the fourth quarter valued at approximately $32,000. Quarry LP acquired a new stake in St. Joe in the third quarter valued at approximately $39,000. Finally, Smartleaf Asset Management LLC grew 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 period. 86.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Weiss Ratings lowered St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Wall Street Zen lowered St. Joe from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

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.