Insider Selling: St. Joe (NYSE:JOE) Major Shareholder Sells 87,700 Shares of Stock

by · The Markets Daily

St. Joe Company (The) (NYSE:JOE – Get Free Report) major shareholder Bruce Berkowitz sold 87,700 shares of St. Joe stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $65.51, for a total value of $5,745,227.00. Following the completion of the transaction, the insider owned 16,165,024 shares of the company’s stock, valued at approximately $1,058,970,722.24. This represents a 0.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

St. Joe Stock Down 2.1%

NYSE:JOE traded down $1.35 during mid-day trading on Tuesday, reaching $64.04. The company’s stock had a trading volume of 133,553 shares, compared to its average volume of 212,804. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.75. The stock has a fifty day moving average of $60.70 and a 200-day moving average of $54.26. St. Joe Company has a 1 year low of $40.19 and a 1 year high of $66.08. The firm has a market capitalization of $3.70 billion, a PE ratio of 35.58 and a beta of 1.32.

St. Joe (NYSE:JOE – Get Free Report) last released its earnings results on Wednesday, October 29th. The financial services provider reported $0.67 EPS for the quarter. St. Joe had a net margin of 21.40% and a return on equity of 13.96%. The company had revenue of $161.08 million during the quarter.

St. Joe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Thursday, November 13th were given a $0.16 dividend. This is an increase from St. Joe’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, November 13th. St. Joe’s dividend payout ratio (DPR) is presently 35.56%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on JOE. Weiss Ratings reissued a “buy (b-)” rating on shares of St. Joe in a research report on Monday, December 29th. Wall Street Zen raised St. Joe from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy”.

View Our Latest Analysis on JOE

Institutional Trading of St. Joe

Hedge funds have recently made changes to their positions in the stock. Financial Consulate Inc. bought a new position in St. Joe during the third quarter valued at about $31,000. EverSource Wealth Advisors LLC raised its position in shares of St. Joe by 155.7% in the 2nd 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. Parkside Financial Bank & Trust lifted its holdings in St. Joe by 2,265.5% during the second quarter. Parkside Financial Bank & Trust now owns 686 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 657 shares in the last quarter. Quarry LP acquired a new position in shares of St. Joe during the third quarter worth about $39,000. Finally, Smartleaf Asset Management LLC boosted its holdings in 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 purchasing an additional 236 shares during the last quarter. 86.67% of the stock is owned by hedge funds and other institutional investors.

About St. Joe

(Get Free Report)

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.

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