Raymond James Financial Inc. Makes New $4.66 Million Investment in The St. Joe Company (NYSE:JOE)

Raymond James Financial Inc. purchased a new stake in The St. Joe Company (NYSE:JOE) during the fourth quarter, Holdings Channel reports. The firm purchased 103,639 shares of the financial services provider’s stock, valued at approximately $4,657,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in St. Joe by 30.4% in the third quarter. JPMorgan Chase & Co. now owns 152,565 shares of the financial services provider’s stock valued at $8,896,000 after acquiring an additional 35,600 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of St. Joe by 130.5% during the 3rd quarter. Citigroup Inc. now owns 67,539 shares of the financial services provider’s stock valued at $3,938,000 after purchasing an additional 38,243 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of St. Joe by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 357,655 shares of the financial services provider’s stock worth $20,855,000 after purchasing an additional 22,187 shares in the last quarter. Edgestream Partners L.P. grew its stake in St. Joe by 279.2% during the 3rd quarter. Edgestream Partners L.P. now owns 68,059 shares of the financial services provider’s stock worth $3,969,000 after buying an additional 50,112 shares during the last quarter. Finally, Accordant Advisory Group Inc increased its position in St. Joe by 80.8% during the 4th quarter. Accordant Advisory Group Inc now owns 52,227 shares of the financial services provider’s stock valued at $2,347,000 after buying an additional 23,333 shares in the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

St. Joe Trading Down 0.0 %

St. Joe stock opened at $46.85 on Wednesday. The St. Joe Company has a one year low of $42.94 and a one year high of $64.69. The stock has a market cap of $2.73 billion, a PE ratio of 39.70 and a beta of 1.30. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a 50-day moving average of $47.17 and a two-hundred day moving average of $50.42.

St. Joe (NYSE:JOE) last announced its quarterly earnings data on Wednesday, February 26th. The financial services provider reported $0.32 EPS for the quarter. The firm 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Monday, March 10th. St. Joe’s dividend payout ratio (DPR) is presently 44.09%.

Insider Activity at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 95,700 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $47.11, for a total value of $4,508,427.00. Following the sale, the insider now owns 17,162,524 shares in the company, valued at $808,526,505.64. This represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 300,000 shares of company stock valued at $14,113,022 in the last ninety days. Company insiders own 38.80% of the company’s stock.

St. Joe Profile

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.