Insider Selling: St. Joe (NYSE:JOE) Major Shareholder Sells $6,178,578.00 in Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 94,200 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $65.59, for a total transaction of $6,178,578.00. Following the completion of the transaction, the insider directly owned 15,240,724 shares in the company, valued at $999,639,087.16. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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

Shares of NYSE:JOE opened at $65.80 on Friday. St. Joe Company has a 12 month low of $45.83 and a 12 month high of $73.54. The firm has a market capitalization of $3.78 billion, a P/E ratio of 33.92 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. The company’s fifty day moving average price is $65.77 and its 200 day moving average price is $65.38.

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

St. Joe Announces Dividend

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

Hedge Funds Weigh In On St. Joe

A number of hedge funds and other institutional investors have recently made changes to their positions in JOE. Nitor Capital Management LLC purchased a new stake in St. Joe during the 4th quarter valued at approximately $31,789,000. Vanguard Group Inc. grew its stake in shares of St. Joe by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,959,298 shares of the financial services provider’s stock valued at $294,866,000 after purchasing an additional 179,877 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of St. Joe by 54.7% in the third quarter. Victory Capital Management Inc. now owns 407,438 shares of the financial services provider’s stock valued at $20,160,000 after purchasing an additional 144,121 shares during the period. Select Equity Group L.P. acquired a new position in shares of St. Joe in the second quarter valued at approximately $6,347,000. Finally, Janus Henderson Group PLC raised its stake in shares of St. Joe by 668.3% during the fourth quarter. Janus Henderson Group PLC now owns 139,947 shares of the financial services provider’s stock worth $8,310,000 after purchasing an additional 121,733 shares during the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Wall Street Analyst Weigh In

JOE has been the topic of several research analyst reports. Wall Street Zen lowered St. Joe from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings lowered shares of St. Joe from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

St. Joe Company Profile

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.