Insider Selling: St. Joe (NYSE:JOE) Major Shareholder Sells 26,700 Shares of Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 26,700 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $65.03, for a total transaction of $1,736,301.00. Following the transaction, the insider owned 15,214,024 shares of the company’s stock, valued at approximately $989,367,980.72. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

St. Joe Trading Down 0.8%

NYSE JOE traded down $0.52 on Tuesday, hitting $64.55. The company’s stock had a trading volume of 212,010 shares, compared to its average volume of 223,790. 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 Company has a 1-year low of $45.83 and a 1-year high of $73.54. The company’s 50-day moving average is $65.80 and its 200 day moving average is $65.30. The firm has a market cap of $3.71 billion, a PE ratio of 33.27 and a beta of 1.28.

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

St. Joe Dividend Announcement

The firm 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 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, June 9th. St. Joe’s dividend payout ratio is 32.99%.

Institutional Investors Weigh In On St. Joe

Large investors have recently modified their holdings of the company. Camelot Portfolios LLC acquired a new stake in shares of St. Joe during the fourth quarter worth $30,000. Kestra Advisory Services LLC acquired a new stake in shares of St. Joe during the fourth quarter worth $32,000. EverSource Wealth Advisors LLC increased its position 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 worth $31,000 after buying an additional 397 shares during the period. Quarry LP acquired a new stake in shares of St. Joe during the third quarter worth $39,000. Finally, Smartleaf Asset Management LLC increased its position 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. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on JOE shares. Wall Street Zen cut shares of St. Joe from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings cut shares of St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock 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.