Raymond James Financial Inc. Takes $4.66 Million Position in The St. Joe Company (NYSE:JOE)

Raymond James Financial Inc. bought a new position in shares of The St. Joe Company (NYSE:JOE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 103,639 shares of the financial services provider’s stock, valued at approximately $4,657,000. Raymond James Financial Inc. owned about 0.18% of St. Joe at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in JOE. Vanguard Group Inc. raised its position in shares of St. Joe by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 6,197,402 shares of the financial services provider’s stock valued at $278,449,000 after purchasing an additional 252,906 shares during the period. Norges Bank bought a new position in St. Joe in the 4th quarter valued at about $4,981,000. Barclays PLC lifted its position in St. Joe by 404.5% during the third quarter. Barclays PLC now owns 64,990 shares of the financial services provider’s stock worth $3,790,000 after acquiring an additional 52,107 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of St. Joe by 33.0% during the fourth quarter. JPMorgan Chase & Co. now owns 202,911 shares of the financial services provider’s stock worth $9,117,000 after acquiring an additional 50,346 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of St. Joe by 312.6% in the fourth quarter. Renaissance Technologies LLC now owns 61,900 shares of the financial services provider’s stock valued at $2,781,000 after purchasing an additional 46,898 shares during the last quarter. Institutional investors own 86.67% of the company’s stock.

St. Joe Stock Performance

NYSE:JOE opened at $42.57 on Friday. The stock has a 50 day simple moving average of $45.00 and a 200 day simple moving average of $47.96. The stock has a market cap of $2.48 billion, a P/E ratio of 36.08 and a beta of 1.28. The St. Joe Company has a 1-year low of $40.19 and a 1-year high of $64.69. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.85.

St. Joe (NYSE:JOE) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.30 earnings per share for the quarter. St. Joe had a return on equity of 9.58% and a net margin of 17.76%. The company had revenue of $94.20 million during the quarter.

St. Joe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.32%. St. Joe’s payout ratio is presently 44.09%.

Insider Transactions at St. Joe

In related news, 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 value of $7,534,100.00. Following the transaction, the insider now owns 17,000,724 shares in the company, valued at approximately $799,034,028. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 300,000 shares of company stock valued at $14,113,022. 38.80% of the stock is currently owned by company insiders.

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.