Raymond James & Associates Has $4.88 Million Holdings in The St. Joe Company (NYSE:JOE)

Raymond James & Associates raised its stake in The St. Joe Company (NYSE:JOE) by 169.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 89,286 shares of the financial services provider’s stock after buying an additional 56,171 shares during the quarter. Raymond James & Associates’ holdings in St. Joe were worth $4,884,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in St. Joe by 263.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 589 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 427 shares in the last quarter. Lowe Wealth Advisors LLC acquired a new stake in St. Joe in the 2nd quarter valued at about $63,000. Quest Partners LLC acquired a new stake in St. Joe in the 4th quarter valued at about $162,000. SG Americas Securities LLC increased its position in St. Joe by 17.1% in the 2nd quarter. SG Americas Securities LLC now owns 3,417 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 498 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in St. Joe in the 4th quarter valued at about $203,000. Institutional investors and hedge funds own 86.67% of the company’s stock.

Insider Transactions at St. Joe

In other news, Director Bruce R. Berkowitz sold 28,100 shares of St. Joe stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $62.98, for a total transaction of $1,769,738.00. Following the completion of the sale, the director now owns 18,172,524 shares in the company, valued at approximately $1,144,505,561.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Bruce R. Berkowitz sold 28,100 shares of St. Joe stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $62.98, for a total transaction of $1,769,738.00. Following the transaction, the director now owns 18,172,524 shares of the company’s stock, valued at approximately $1,144,505,561.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Berkowitz sold 54,000 shares of St. Joe stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $63.76, for a total transaction of $3,443,040.00. Following the transaction, the director now directly owns 18,200,624 shares in the company, valued at approximately $1,160,471,786.24. The disclosure for this sale can be found here. Insiders sold a total of 285,000 shares of company stock worth $17,558,573 in the last quarter. 38.80% of the stock is owned by company insiders.

St. Joe Trading Down 0.3 %

JOE opened at $58.32 on Friday. The St. Joe Company has a 1-year low of $45.93 and a 1-year high of $64.69. The firm has a 50-day moving average price of $57.84 and a two-hundred day moving average price of $56.48. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $3.41 billion, a PE ratio of 41.66 and a beta of 1.27.

St. Joe (NYSE:JOE) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.42 EPS for the quarter. St. Joe had a net margin of 18.32% and a return on equity of 10.07%. The company had revenue of $111.60 million during the quarter.

St. Joe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be given a dividend of $0.14 per share. This is a boost from St. Joe’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, August 9th. This represents a $0.56 annualized dividend and a dividend yield of 0.96%. St. Joe’s payout ratio is currently 40.00%.

St. Joe Company 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.