Insider Selling: St. Joe (NYSE:JOE) Major Shareholder Sells $10,761,608.00 in Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 163,600 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $65.78, for a total value of $10,761,608.00. Following the transaction, the insider owned 15,720,824 shares of the company’s stock, valued at approximately $1,034,115,802.72. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

St. Joe Trading Up 1.5%

JOE opened at $66.00 on Friday. St. Joe Company has a 52 week low of $42.65 and a 52 week high of $73.54. The business has a fifty day simple moving average of $67.55 and a 200-day simple moving average of $63.64. The firm has a market cap of $3.79 billion, a P/E ratio of 34.02 and a beta of 1.31. 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 released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.24 EPS for the quarter. St. Joe had a return on equity of 14.59% and a net margin of 21.61%.The business had revenue of $99.04 million during the quarter.

St. Joe Dividend Announcement

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

Analysts Set New Price Targets

Separately, Wall Street Zen lowered St. Joe from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of JOE. Camelot Portfolios LLC purchased a new position in St. Joe in the fourth quarter valued at $30,000. EverSource Wealth Advisors LLC boosted 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 purchased a new position in St. Joe in the fourth quarter valued at $32,000. Quarry LP purchased a new position in St. Joe in the third quarter valued at $39,000. Finally, Smartleaf Asset Management LLC boosted 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 currently owned by hedge funds and other institutional investors.

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.