JPMorgan Chase & Co. Buys 50,346 Shares of The St. Joe Company (NYSE:JOE)

JPMorgan Chase & Co. raised its stake in The St. Joe Company (NYSE:JOE) by 33.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 202,911 shares of the financial services provider’s stock after acquiring an additional 50,346 shares during the period. JPMorgan Chase & Co. owned about 0.35% of St. Joe worth $9,117,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of St. Joe by 5.7% in the third quarter. State Street Corp now owns 1,396,046 shares of the financial services provider’s stock valued at $81,403,000 after acquiring an additional 75,374 shares during the last quarter. Barclays PLC raised its position in St. Joe by 404.5% in the 3rd quarter. Barclays PLC now owns 64,990 shares of the financial services provider’s stock valued at $3,790,000 after purchasing an additional 52,107 shares during the last quarter. Geode Capital Management LLC raised its position in St. Joe by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 898,637 shares of the financial services provider’s stock valued at $52,409,000 after purchasing an additional 23,973 shares during the last quarter. Virtu Financial LLC acquired a new position in St. Joe in the third quarter worth $245,000. Finally, Annex Advisory Services LLC grew its holdings in shares of St. Joe by 49.7% during the fourth quarter. Annex Advisory Services LLC now owns 42,656 shares of the financial services provider’s stock worth $1,917,000 after purchasing an additional 14,155 shares during the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 2,900 shares of St. Joe stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $47.01, for a total value of $136,329.00. Following the transaction, the insider now owns 16,940,624 shares of the company’s stock, valued at approximately $796,378,734.24. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 300,000 shares of company stock worth $14,113,022. Company insiders own 38.80% of the company’s stock.

St. Joe Stock Down 0.2 %

Shares of NYSE JOE opened at $42.64 on Wednesday. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 36.14 and a beta of 1.28. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.85. The firm’s 50-day simple moving average is $45.83 and its 200 day simple moving average is $48.78. The St. Joe Company has a 12-month low of $40.19 and a 12-month high of $64.69.

St. Joe (NYSE:JOE) last posted its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter. The business had revenue of $104.30 million for the quarter. St. Joe had a return on equity of 9.58% and a net margin of 17.76%.

St. Joe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Monday, March 10th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.56 annualized dividend and a dividend yield of 1.31%. St. Joe’s payout ratio is currently 44.09%.

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.