Insider Selling: St. Joe (NYSE:JOE) Major Shareholder Sells $643,632.00 in Stock

St. Joe Company (The) (NYSE:JOE) major shareholder Bruce Berkowitz sold 8,800 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $73.14, for a total transaction of $643,632.00. Following the sale, the insider directly owned 16,096,124 shares in the company, valued at approximately $1,177,270,509.36. The trade was a 0.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

St. Joe Stock Performance

St. Joe stock opened at $69.95 on Friday. The company’s 50-day moving average price is $66.33 and its 200-day moving average price is $58.31. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.73. The company has a market cap of $4.02 billion, a PE ratio of 34.98 and a beta of 1.30. St. Joe Company has a twelve month low of $40.19 and a twelve month high of $73.54.

St. Joe (NYSE:JOE) last released its quarterly earnings results on Wednesday, February 25th. The financial services provider reported $0.52 EPS for the quarter. St. Joe had a return on equity of 15.23% and a net margin of 22.52%.The company had revenue of $128.89 million during the quarter.

St. Joe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Monday, March 9th will be issued a $0.16 dividend. The ex-dividend date is Monday, March 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. St. Joe’s payout ratio is 32.00%.

Hedge Funds Weigh In On St. Joe

Hedge funds have recently added to or reduced their stakes in the stock. Cross Staff Investments Inc purchased a new position in shares of St. Joe during the fourth quarter worth approximately $232,000. Invesco Ltd. grew its stake in St. Joe by 47.6% in the fourth quarter. Invesco Ltd. now owns 169,191 shares of the financial services provider’s stock worth $10,045,000 after purchasing an additional 54,601 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in St. Joe during the 4th quarter worth $222,000. State of Tennessee Department of Treasury raised its position in St. Joe by 23.6% during the 4th quarter. State of Tennessee Department of Treasury now owns 15,148 shares of the financial services provider’s stock valued at $899,000 after purchasing an additional 2,889 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in St. Joe by 233.8% during the 4th quarter. NewEdge Advisors LLC now owns 24,290 shares of the financial services provider’s stock valued at $1,442,000 after purchasing an additional 17,013 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JOE. Wall Street Zen downgraded St. Joe from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of St. Joe in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, St. Joe presently has an average rating of “Buy”.

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.