Rhumbline Advisers reduced its position in shares of Tiptree Financial Inc. (NASDAQ:TIPT – Free Report) by 23.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,692 shares of the financial services provider’s stock after selling 11,373 shares during the period. Rhumbline Advisers’ holdings in Tiptree Financial were worth $884,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Royce & Associates LP lifted its position in shares of Tiptree Financial by 15.0% during the 4th quarter. Royce & Associates LP now owns 524,247 shares of the financial services provider’s stock worth $10,936,000 after purchasing an additional 68,338 shares during the last quarter. Kennedy Capital Management LLC lifted its position in shares of Tiptree Financial by 55.2% during the 4th quarter. Kennedy Capital Management LLC now owns 273,014 shares of the financial services provider’s stock worth $5,695,000 after purchasing an additional 97,078 shares during the last quarter. Invesco Ltd. lifted its position in shares of Tiptree Financial by 395.9% during the 4th quarter. Invesco Ltd. now owns 261,563 shares of the financial services provider’s stock worth $5,456,000 after purchasing an additional 208,814 shares during the last quarter. Northern Trust Corp lifted its position in shares of Tiptree Financial by 9.6% during the 4th quarter. Northern Trust Corp now owns 226,469 shares of the financial services provider’s stock worth $4,724,000 after purchasing an additional 19,773 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its position in shares of Tiptree Financial by 0.5% during the 4th quarter. Hillsdale Investment Management Inc. now owns 221,977 shares of the financial services provider’s stock worth $4,630,000 after purchasing an additional 1,200 shares during the last quarter. 37.78% of the stock is owned by hedge funds and other institutional investors.
Tiptree Financial Price Performance
Shares of NASDAQ:TIPT opened at $22.98 on Friday. The company’s fifty day moving average price is $22.20 and its 200 day moving average price is $21.62. Tiptree Financial Inc. has a 12 month low of $15.60 and a 12 month high of $26.90. The firm has a market capitalization of $861.68 million, a P/E ratio of 19.15 and a beta of 1.15.
Tiptree Financial (NASDAQ:TIPT – Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.49 EPS for the quarter. Tiptree Financial had a net margin of 2.45% and a return on equity of 13.87%. The firm had revenue of $497.43 million for the quarter.
Tiptree Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 12th were paid a dividend of $0.06 per share. The ex-dividend date was Monday, May 12th. This represents a $0.24 annualized dividend and a yield of 1.04%. Tiptree Financial’s dividend payout ratio is currently 20.00%.
Analysts Set New Price Targets
Separately, Wall Street Zen cut shares of Tiptree Financial from a “buy” rating to a “hold” rating in a research report on Monday, May 5th.
View Our Latest Research Report on Tiptree Financial
Tiptree Financial Company Profile
(Free Report)
Tiptree Inc, through its subsidiaries, provides specialty insurance products and related services primarily in the United States. It operates through two segments: Insurance and Mortgage. The company offers niche; commercial lines insurance products, including professional liability, general liability, contractual liability protection, property and other short-tail, and alternative risks insurance products; and personal lines insurance products, such as credit protection surrounding loan payments.
Recommended Stories
Want to see what other hedge funds are holding TIPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tiptree Financial Inc. (NASDAQ:TIPT – Free Report).
Receive News & Ratings for Tiptree Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Tiptree Financial and related companies with MarketBeat.com’s FREE daily email newsletter.
