Bridgeway Capital Management LLC Sells 42,773 Shares of Tiptree Financial Inc. $TIPT

Key Points

• Bridgeway Capital Management LLC reduced its stake in Tiptree Financial by 16.9%, selling 42,773 shares to hold a total of 210,640 shares worth $5,074,000.
• Tiptree Financial reported a quarterly earnings per share of $0.52 and a net margin of 2.77%, with revenues reaching $528.75 million.
• After a recent upgrade by analysts at Wall Street Zen, Tiptree Financial's stock is now rated as a "buy", indicating positive market sentiment.

Bridgeway Capital Management LLC reduced its position in shares of Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) by 16.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 210,640 shares of the financial services provider's stock after selling 42,773 shares during the period. Bridgeway Capital Management LLC owned about 0.57% of Tiptree Financial worth $5,074,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC lifted its holdings in Tiptree Financial by 3.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 16,777 shares of the financial services provider's stock valued at $404,000 after purchasing an additional 543 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Tiptree Financial by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,431 shares of the financial services provider's stock valued at $301,000 after purchasing an additional 608 shares during the last quarter. CWM LLC lifted its holdings in Tiptree Financial by 86.7% during the 1st quarter. CWM LLC now owns 1,535 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 713 shares during the last quarter. Royal Bank of Canada lifted its holdings in Tiptree Financial by 8.3% during the 1st quarter. Royal Bank of Canada now owns 10,107 shares of the financial services provider's stock valued at $243,000 after purchasing an additional 775 shares during the last quarter. Finally, Trexquant Investment LP raised its stake in shares of Tiptree Financial by 16.2% in the first quarter. Trexquant Investment LP now owns 15,361 shares of the financial services provider's stock worth $370,000 after acquiring an additional 2,140 shares during the last quarter. 37.78% of the stock is owned by institutional investors.

Tiptree Financial Price Performance

TIPT stock opened at $23.34 on Friday. The company has a 50 day moving average price of $22.22 and a 200 day moving average price of $22.29. Tiptree Financial Inc. has a fifty-two week low of $18.25 and a fifty-two week high of $26.90. The stock has a market capitalization of $875.25 million, a PE ratio of 18.52 and a beta of 1.23.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.52 earnings per share for the quarter. Tiptree Financial had a net margin of 2.77% and a return on equity of 13.90%. The firm had revenue of $528.75 million during the quarter.

Tiptree Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 18th were given a dividend of $0.06 per share. The ex-dividend date was Monday, August 18th. This represents a $0.24 annualized dividend and a dividend yield of 1.0%. Tiptree Financial's payout ratio is currently 19.05%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Tiptree Financial from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd.

Tiptree Financial 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.

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