Bridgeway Capital Management LLC Reduces Stock Position in Tiptree Inc. (NASDAQ:TIPT)

Bridgeway Capital Management LLC cut its position in Tiptree Inc. (NASDAQ:TIPT - Free Report) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,413 shares of the financial services provider's stock after selling 36,481 shares during the period. Bridgeway Capital Management LLC owned 0.68% of Tiptree worth $5,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new position in Tiptree in the 4th quarter valued at $83,000. Aquatic Capital Management LLC purchased a new position in shares of Tiptree in the fourth quarter worth about $85,000. Price T Rowe Associates Inc. MD purchased a new stake in Tiptree during the 4th quarter valued at about $200,000. Trexquant Investment LP grew its stake in Tiptree by 24.9% during the 4th quarter. Trexquant Investment LP now owns 13,221 shares of the financial services provider's stock valued at $276,000 after acquiring an additional 2,635 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Tiptree by 31.9% in the 4th quarter. Wells Fargo & Company MN now owns 14,087 shares of the financial services provider's stock valued at $294,000 after acquiring an additional 3,403 shares during the last quarter. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

Tiptree Stock Performance

Shares of NASDAQ TIPT traded up $0.25 during trading on Tuesday, hitting $21.82. 41,121 shares of the company were exchanged, compared to its average volume of 99,720. The firm has a market capitalization of $812.99 million, a PE ratio of 22.49 and a beta of 1.16. The company has a fifty day moving average price of $22.46 and a 200-day moving average price of $21.45. Tiptree Inc. has a 12-month low of $15.60 and a 12-month high of $26.90.

Tiptree (NASDAQ:TIPT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.49 earnings per share for the quarter. Tiptree had a net margin of 2.05% and a return on equity of 11.50%. The firm had revenue of $497.43 million during the quarter.

Tiptree Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 12th will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, May 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.10%. Tiptree's payout ratio is 20.00%.

Analysts Set New Price Targets

Separately, StockNews.com cut Tiptree from a "buy" rating to a "hold" rating in a report on Monday, May 5th.

Tiptree Company Profile

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.