Pictet Asset Management Holding SA Acquires 1,300 Shares of The St. Joe Company (NYSE:JOE)

Pictet Asset Management Holding SA raised its stake in shares of The St. Joe Company (NYSE:JOE) by 30.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,521 shares of the financial services provider’s stock after acquiring an additional 1,300 shares during the quarter. Pictet Asset Management Holding SA’s holdings in St. Joe were worth $248,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in JOE. JPMorgan Chase & Co. boosted its position in St. Joe by 30.4% during the third quarter. JPMorgan Chase & Co. now owns 152,565 shares of the financial services provider’s stock valued at $8,896,000 after purchasing an additional 35,600 shares in the last quarter. Accordant Advisory Group Inc lifted its position in shares of St. Joe by 80.8% during the fourth 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 during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of St. Joe by 108.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 11,297 shares of the financial services provider’s stock valued at $508,000 after buying an additional 5,875 shares in the last quarter. Swiss National Bank grew its position in shares of St. Joe by 17.5% in the 4th quarter. Swiss National Bank now owns 80,400 shares of the financial services provider’s stock worth $3,612,000 after buying an additional 12,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of St. Joe by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 6,197,402 shares of the financial services provider’s stock worth $278,449,000 after acquiring an additional 252,906 shares in the last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Bruce R. Berkowitz sold 95,700 shares of St. Joe stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $47.11, for a total value of $4,508,427.00. Following the completion of the sale, the insider now directly owns 17,162,524 shares in the company, valued at $808,526,505.64. This trade represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 300,000 shares of company stock worth $14,113,022 over the last 90 days. 38.80% of the stock is currently owned by corporate insiders.

St. Joe Price Performance

Shares of JOE opened at $41.67 on Friday. The company has a 50 day moving average of $46.14 and a two-hundred day moving average of $49.12. 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 St. Joe Company has a twelve month low of $40.19 and a twelve month high of $64.69. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 35.31 and a beta of 1.28.

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

St. Joe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Monday, March 10th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.34%. The ex-dividend date was Monday, March 10th. St. Joe’s dividend payout ratio is presently 44.09%.

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.