Key Points
- Major shareholder Bruce Berkowitz sold 140,400 shares of St. Joe on June 18 at an average price of $65.71, totaling about $9.23 million. After the sale, he still held 15,073,624 shares, a 0.92% reduction in ownership.
- St. Joe stock was up 1.6% around the time of the report, opening at $66.37. The company’s market cap was about $3.81 billion, and its shares were trading near both the 50-day and 200-day moving averages.
- The company recently reported earnings and a dividend, posting $0.24 EPS on $99.04 million in revenue for the quarter. It also announced a quarterly dividend of $0.16 per share, payable June 25, for a 1.0% yield.
St. Joe Company (The) (NYSE:JOE - Get Free Report) major shareholder Bruce Berkowitz sold 140,400 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $65.71, for a total value of $9,225,684.00. Following the completion of the sale, the insider directly owned 15,073,624 shares of the company's stock, valued at $990,487,833.04. This represents a 0.92% 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. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
St. Joe Stock Up 1.6%
JOE stock opened at $66.37 on Wednesday. The company has a market cap of $3.81 billion, a P/E ratio of 34.21 and a beta of 1.28. St. Joe Company has a 52 week low of $46.37 and a 52 week high of $73.54. The company's 50-day moving average price is $65.67 and its 200 day moving average price is $65.47. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.72.
St. Joe (NYSE:JOE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. The firm had revenue of $99.04 million during the quarter. St. Joe had a return on equity of 14.59% and a net margin of 21.61%.
St. Joe Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors 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 payout ratio is currently 32.99%.
Institutional Trading of St. Joe
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Camelot Portfolios LLC purchased a new position in shares of St. Joe during the 4th quarter worth $30,000. EverSource Wealth Advisors LLC grew its position in shares of 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 stake in shares of St. Joe in the fourth quarter valued at $32,000. Quarry LP acquired a new position in St. Joe in the third quarter valued at $39,000. Finally, Smartleaf Asset Management LLC increased its stake 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 last quarter. 86.67% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
JOE has been the topic of a number of analyst reports. Wall Street Zen lowered St. Joe from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Weiss Ratings downgraded shares of St. Joe from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, St. Joe currently has an average rating of "Hold".
Read Our Latest Research Report on St. Joe
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
