Insider Selling: The St. Joe Company (NYSE:JOE) Major Shareholder Sells $7,534,100.00 in Stock

The St. Joe Company (NYSE:JOE) major shareholder Bruce R. Berkowitz sold 160,300 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $47.00, for a total transaction of $7,534,100.00. Following the sale, the insider now owns 17,000,724 shares in the company, valued at approximately $799,034,028. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

St. Joe Trading Down 1.9 %

Shares of NYSE:JOE opened at $45.91 on Friday. The St. Joe Company has a 12 month low of $42.94 and a 12 month high of $64.69. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.85. The company’s fifty day simple moving average is $47.15 and its 200 day simple moving average is $50.61. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 38.91 and a beta of 1.30.

St. Joe (NYSE:JOE) last released its earnings results on Wednesday, February 26th. The financial services provider reported $0.32 earnings per share for the quarter. The business had revenue of $104.30 million during the quarter. St. Joe had a net margin of 17.76% and a return on equity of 9.58%.

St. Joe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Monday, March 10th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Monday, March 10th. St. Joe’s dividend payout ratio (DPR) is currently 44.09%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JOE. Smartleaf Asset Management LLC grew its position in St. Joe by 277.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 585 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 430 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of St. Joe in the 3rd quarter valued at about $35,000. Lazard Asset Management LLC bought a new position in shares of St. Joe in the 4th quarter valued at about $38,000. Campbell Capital Management Inc. bought a new position in shares of St. Joe in the 4th quarter valued at about $67,000. Finally, KBC Group NV grew its position in shares of St. Joe by 35.8% in the 3rd quarter. KBC Group NV now owns 1,483 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 391 shares during the period. Institutional investors own 86.67% of the company’s stock.

About St. Joe

The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Northwest Florida. It operates through three segments: Residential, Hospitality, and Commercial. The Residential segment engages in the development of communities into homesites for sale to homebuilders and on a limited basis to retail customers.